Telefónica says it’s signed a strategic partnership with cloud services company Joyent and is also making a strategic equity investment in the business. It says Joyent’s technology expertise will help enhance cloud-based services for Telefonica’s new Digital unit.
Matthew Key, Chairman and CEO of Telefónica Digital, said “This investment is further proof of our ambition in the area of cloud services and our strategy of working with the most innovative start-ups. Joyent’s technology fits perfectly with our in-house developed technologies and our cloud services model and enables us to provide more competitive offerings to a broader range of customer segments.”
The investment, which is being made by the Telefónica Ventures division of Telefónica Digital, is only the second since Telefonica Digital was created in September 2011. Joyent says a total of $85 million funding has been raised recently, with most of this coming from European venture capital group Weather Investment II.