Telefonica Digital is accelerating its expansion into cloud services, inking a strategic partnership deal with cloud and storage company Box.
The digital arm of O2's parent organisation is one of several companies that have raised $100 million in new funding for Box through commercial agreements and strategic investment.
Telefonica is joined by Japanese companies Itochu Technology Ventures, Macnica, Mitsui USA and MKI, as well as existing Box partners, Coatue and DST Global, in participating with investment.
Box has 20 million users worldwide at more than 180,000 businesses, and has expanded operations in Europe after opening offices in London, Munich and Paris. In the Asia-Pacific arm of the company, Katsunori Furuichi has been hired as president of its Japanese operations.
Executive vice president of investment and business development at Telefonica Digital, Tracy Isacke, said: ' We know how much our customers, large and small, value the convenience and flexibility of cloud storage and Box is the clear leader in this space.
'We look forward to working with Box as an investor and partner to bring the best possible cloud-based products and services to our customers, helping to transform the way they operate.’
Co-founder and CEO of Box, Aaron Levie, added: ‘The combination of cloud and mobile technologies creates an entirely new way of working that will fundamentally reshape the IT industry. Our new partners will help us connect and work with businesses in key global markets as they manage this transition.’