AWS Signs $1 Billion Deal with e& to Boost Middle East Digital Transformation

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Oct 16, 2024
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Amazon Web Services (AWS) has entered into a $1 billion agreement with UAE telecom operator e& to drive digital transformation in the Middle East. This partnership is part of AWS's broader strategy, which includes a $5 billion investment plan in the UAE through 2036. AWS had previously expanded its presence in the region by launching a second Middle East cloud zone in 2022.

The six-year agreement focuses on providing core cloud services like data storage, computing, cybersecurity, and developing AI and machine learning capabilities. These services aim to enhance the efficiency and customer experience for e&’s clientele in the Middle East by offering advanced AI-driven solutions.

e& will leverage more than 200 specialized services offered by AWS to upgrade digital platforms like Careem and Starzplay Arabia. Additionally, e& plans to use Amazon’s technology to enhance its AI capabilities and improve smart home services.

The agreement will also provide hundreds of small to medium-sized enterprises supported by e& with access to the AWS Marketplace. According to PwC, nearly 70% of companies in the Middle East plan to shift most of their operations to the cloud over the next two years.

An industry report anticipates that public cloud adoption could generate $733 billion in economic value for the Middle East by 2033. Since its inception in 2006, AWS has been a leading cloud service provider, offering over 240 fully-featured services across 33 geographic regions.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.