ST Electronics and NEC to collaborate on cloud services

The first initiative is a joint venture agreement between ST's wholly owned subsidiary, ST Electronics (Info-Software Systems) and NEC Asic Pacific to set up NEC STEE Cloud Services. The new venture will be set up with an initial investment of S$6million. NEC APAC will own a 60% stake in NEC STEE Cloud Services and ST Electronics (Info Software Systems) the remaining 40% stake. The new company will set up a Cloud Orientated Data Centre to offer software as a service to both public and private institutions. According to both companies, existing customers that choose to move to the new cloud business model will receive lower operating costs by outsourcing requirements to NEC STEE Cloud Services. Toshiyuki Mineno, executive vice president and chief global business officer, NEC, said: "As part of NEC's global strategies, one of which is to expand our global footprint for our Cloud business, NEC is excited at this opportunity to work with the ST Electronics group, one of the leading ICT companies in Singapore to collaborate on this cloud initiative. "Singapore, being the Asia Pacific regional headquarters for NEC, is the ideal location to kick start this cloud business into the region. We believe the collaboration will benefit not only both companies in expanding our territories, but ultimately, our customers who can leverage on the latest and advanced technologies provided by the two technology powerhouses."