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SAN JOSE, Calif., Oct. 10, 2019 (GLOBE NEWSWIRE) -- Megazone Cloud, one of the largest AWS partners in the Asia Pacific region, today announced it had signed a joint venture agreement with LG CNS, a subsidiary of LG Corporation that specializes in information technology (IT) and headquartered in Korea, to help companies with digital transformation including cloud migration and operation.
Max Joo Wan Lee, the CEO of Megazone Cloud, and Yeong-Seob Kim, the CEO of LG CNS, met at the Megazone Cloud office in Seoul on 26 September and signed the joint venture agreement. The combined experience and expertise from two partners will provide synergistic support for enterprises in need for cloud digital transformation from assessment and planning to development and operation.
Two partners will go through detailed operation planning together and expect to finalize setting up the new joint venture by the end of this year and expand its coverage to overseas markets to support ever-increasing global cloud service market. Gartner, the world’s leading research and advisory company, forecasts that the size of the international public cloud service market will reach US$249.8 billion dollars by 2020.
“Rapid development of advanced technology for both home and abroad offices has become one of the fundamental requirements for large conglomerates,” Kim Yeong-Seob, CEO of LG CNS, said. “Together with Megazone Cloud, one of the best and proven technology companies in the cloud, we will lead both domestic and international cloud market.”
Max Joo Wan Lee, CEO of Megazone Cloud, said: “The combination of the core competencies of the two companies will enable us to offer a more reliable end-to-end cloud service.”
“And with the successful experiences in mega-projects and organizational capability of LG CNS, one of the best SI companies in Korea, the two companies will forge ahead in the international cloud market of finance and public sectors,” Lee added. “Recently, the Asian cloud market has advanced rapidly and we will continue to expand our coverage from Asia and move forward to other parts of the world.”
About Megazone Cloud
Megazone Cloud is one of the largest cloud managed service providers (MSP) in the Asia Pacific region. Since its foundation in 1998, the company has offered business-to-business IT services, and currently boasts over 1,000 experts. Megazone Cloud is Korea’s first AWS Premier Consulting Partner is leading the development of the cloud market in the APAC region. Recently, the company has been actively expanding its global market by establishing overseas subsidiaries in the United States, Japan, China, and others. Megazone reported about US$ 1.7 billion of sales in the field of cloud transformation and operational management in 2018 and is foreseeing to reach up to about US$ 3.8 billion of sales. Megazone's customer companies range from big companies such as Samsung Electronics Co. and LG Electronics Inc. to financial institutes and start-ups.
About LG CNS
Found in 1987, LG CNS is a subsidiary of the LG Corporation, and provides a wide range of IT services, including consulting, system integration, ERP, business process outsourcing, and information technology outsourcing for manufacturing, financial services, and public sector.
Crystal SJ Hwang
Strategic Planning Team Manager
PR Agency InterAd, Inc.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f4e914e1-abaf-4443-afb8-222f4cbc7de5