China Unicom and AliCloud Set to Form a Joint Venture
China United Network Communications Group and Ali-Cloud have announced that both the companies are getting into an association and teaming up for the purpose of getting a better tap into cloud business opportunities.
This joint venture has been registered in Beijing with a capital of 353 million yuan ($51.4 million). The basic idea behind the establishment of this venture is to meet the growing demand from China's governmental institutions and State-owned enterprises for cutting-edge software and information technology solutions.
"The new company will leverage China Unicom's infrastructure capabilities, and nationwide operational services in the government and enterprise markets, and combine Alibaba's prowess in cloud computing, big data and artificial intelligence," China Unicom state...