TIM aims for €1bn services revenue after deal with Google Cloud
Telecom Italia (TIM) said this morning that it is aiming for €1 billion annual revenues from cloud, edge and other services by 2024 after signing an agreement with Google Cloud.
TIM and Google Cloud said they have agreed to work together to build innovative public, private and hybrid cloud services for TIM’s expanding technology services portfolio.
CEO Luigi Gubitosi said: “This strategic partnership with Google places TIM among the Italian key players in cloud and edge computing, two markets that will become more and more central with the deployment of 5G technology and artificial intelligence.”
The €1 billion revenue figure includes all of TIM’s technology services, the Italian operator made clear, and the company aims for annual EBITDA of €400 million, also by 2024.
Google Cloud formed a strategic partnership with TIM in November 2019, and today’s announcement follows on from that. Google Cloud CEO Thomas Kurian said: “We are proud to collaborate with TIM to be able to help customers in Italy accelerate their digital transformation journeys.”
Gubitosi added: “By choosing to join forces with a recognised global technological and innovation leader we confirm our commitment to promote and accompany Italy’s digital progress."
TIM said it will create new, modern data centres, as well as develop new cloud-related competencies, with new hires and an extensive training plan involving 6,000 people in the commercial, pre-sales and technical areas.
Google Cloud will partner with TIM to open new cloud regions in Italy. With these new regions, Google Cloud and TIM customers operating in Italy will benefit from low latency and high performance of their cloud-based workloads and data.
TIM aims to use its partnership with Google Cloud to further its role in supporting technological innovation in Italian businesses, in areas such as cloud, 5G, internet of things (IoT) and artificial intelligence (AI).