Last Thursday telecom operators Etisalat (Abu Dhabi, UAE) and Telefonica (Madrid, Spain) announced that they have signed a Strategic Partnership Agreement to enter into a broad-based cooperation. The partnership will allow both companies to collaborate on a range of strategic areas, including the M2M and Cloud-based industries, according to Telefonica.
Under the terms of the agreement, the companies will collaborate on technological standardization, global technology initiatives, research and development, and new emerging products and services such as M2M, financial services or cloud-based services.
Telefonica says that both companies have also agreed to jointly work on procurement, international capacity and wholesale services, as well as offer enhanced support for multinational customers of each operator.
The Partnership Agreement, which is effective immediately, will enable both companies to improve efficiency, drive innovation and generate savings, according to Telefonica. The agreement aims to reinforce each company in their markets, and provide a basis to compete globally in the changing telecommunications industry.
The two companies do not compete in any of their operational markets and these benefits will be offered to most of their subsidiaries and associates over the course of the agreement, said Telefonica. The Etisalat Group is today represented in 18 countries in Africa, Asia and the Middle East, whilst Telefónica’s footprint has been established in 25 markets in Europe and Latin America.