(Australian Associated Press)
Telstra’s ventures subsidiary has made a strategic investment in Chinese cloud services provider, Qiniu, for an undisclosed sum.
The telecom giant said Qiniu offers data hosting and processing for companies in China and across Asia.
Telstra Ventures managing director Matthew Koertge said the deal builds on the company’s momentum in Asia.
Telstra has made five venture investments in the region in just over a year, and acquired Asian telecommunications services provider Pacnet in 2015.
“The opportunities created by the digital explosion underway across Asia, particularly in the Chinese market, underpin this latest investment,” Mr Koertge said.
“With its unique, global-distributed architecture and bi-directional acceleration technology, Qiniu enables enterprise customers to collect, store and analyse huge amounts of data.”
Cloud computing – where companies rent out services and access to software online – has turned into big business for tech companies, including US-based IBM and Microsoft and Germany’s SAP.