Millicom (Tigo) strengthens its cloud services offering for businesses

Rhea-AI Summary

Millicom (Tigo) has entered a new phase in its collaboration with Amazon Web Services (AWS) to enhance its cloud services for businesses in Latin America. The new agreement will help Tigo Business meet the growing demand for professional cloud services and become the primary partner for AWS customers in the region. This initiative aims to support the digital transformation of businesses across nine Latin American countries.

According to IDC, the cloud market size in Central America and the Caribbean is projected to reach $283.2 million in 2024, with a CAGR of 18.6% from 2023 to 2028. The partnership will also focus on digital inclusion and training in Latin America. Tigo Business has invested significantly in SD-WAN services, managed security, and multi-cloud offerings, consolidating its leadership in the regional market.

The agreement is a strategic move to expand Tigo Business's digital solutions portfolio, offering advanced services that ensure security, connectivity, and innovation, thereby fostering Latin America's digital transformation.

Positive

• New agreement with AWS enhances Tigo Business's capabilities to meet professional cloud service demands.
• Projected cloud market size of $283.2 million in Central America and the Caribbean by 2024 with an 18.6% CAGR from 2023 to 2028.
• Significant investment in SD-WAN services, managed security, and multi-cloud offerings consolidates Tigo Business's regional market leadership.
• Focus on digital inclusion and training supports the digital transformation of communities in Latin America.

Negative

• None.

Millicom (Tigo) strengthens its cloud services offering for businesses

Luxembourg, July 2, 2024 – Millicom announces, through Tigo Business, a new phase in its collaboration with Amazon Web Services (AWS) to jointly continue developing the adoption of cloud services. The two companies have signed a new agreement whereby Tigo Business will elevate its competencies and capabilities to the highest level to meet the growing demand for professional services and become the reference partner for AWS customers. Additionally, the telecommunications company is doubling down on its efforts to support the digital transformation of the region and respond to the needs of business customers across the nine countries where it operates in Latin America.

"At Millicom/Tigo, we believe in the power of digital inclusion to transform lives and businesses. Agreements like this strengthen our commitment to providing Latin American companies with the tools and support they need to thrive in an increasingly digital world. By driving new capabilities, we not only strengthen our communities but also collaborate in building a digital ecosystem, which is essential for sustainable economic development and social progress in the region," said Marcelo Benitez, CEO of Millicom.

According to IDC, the cloud market size in Central America and the Caribbean will reach USD $283.2M in 2024. Additionally, the consultancy predicts a CAGR growth of 18.6% between 2023 and 2028. The rapid growth of digital services and cloud adoption is revolutionizing how companies manage and protect their information, making data sovereignty a key priority for CIOs, who plan to allocate 35% of their budgets to compliance solutions over the next 12 months, according to FutureSpace estimates.

"For us at AWS, our partners are key to our business strategy and customer service. That is why, as a region, we set the goal of having partners included in 100% of our accounts. At AWS, we need our partner community to pursue the same commitment as us: to be customer-focused and think long-term, helping them tackle their most impactful challenges and opportunities to achieve positive results," said Gerardo Martínez, General Manager of AWS for Northern Latin America and the Caribbean. "This strategic agreement with Tigo will accelerate and assist thousands of companies in nine Latin American countries on their cloud journey, bringing technology closer to businesses of all sizes and complementing the cloud portfolio with professional services that provide peace of mind and confidence to our clients."

The commercial efforts between both companies are complemented by a joint social commitment. AWS and Millicom/Tigo will also focus on the digital inclusion of communities through the development and dissemination of digital content and training in Latin America. This is a joint effort to develop digital knowledge in the region.

Leading Corporate Digital Transformation

With a focus on the specific needs of each client, Tigo Business offers a comprehensive range of professional services to optimize business processes and improve operational efficiency, driving growth and innovation. The solutions focus on three fundamental pillars: comprehensive security in all Tigo Business catalog solutions, smart connectivity, and storage in both private and public clouds.

The agreement with AWS is a step that will contribute to Tigo Business's strategy to expand its digital solutions portfolio and accelerate the offering of advanced services. In recent years, Tigo Business has invested significantly in training and skills development, strengthening its expertise in SD-WAN services, managed security, and multi-cloud offerings (private, public, and hybrid). These efforts have enabled Tigo Business to continue consolidating its leadership in the regional market and offer a robust combination of solutions in private and public clouds. This progress reflects Tigo's ongoing commitment to security, connectivity, and innovation while fostering collaboration with digital providers aiming to drive Latin America's digital transformation.

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For further information, please contact:

Press:	Investors:
Sofia Corral, Director Corporate Communications press@millicom.com	Michel Morin, VP Investor Relations investors@millicom.com

About Millicom
Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile
telecommunications services in Latin America. Through our TIGO® and Tigo Business® brands, we provide a wide range of digital services and products, including TIGO Money for mobile financial services, TIGO Sports for local entertainment, TIGO ONEtv for pay TV, high-speed data, voice, and business-to-business solutions such as cloud and security. As of March 31, 2024, Millicom, including its Honduras Joint Venture, employed approximately 15,500 people, and provided mobile and fiber-cable services through its digital highways to more than 45 million customers, with a fiber-cable footprint over 14 million homes passed. Founded in 1990, Millicom International Cellular S.A. is headquartered in Luxembourg.

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• Millicom (Tigo) fortalece su oferta de servicios en la nube para empresas_AWS

FAQ

What is the recent agreement between Millicom (Tigo) and AWS?

Millicom (Tigo) has signed a new agreement with AWS to enhance its cloud services for businesses in Latin America, aiming to become the primary partner for AWS customers in the region.

How will the Millicom (Tigo) and AWS partnership impact businesses?

The partnership will help businesses in Latin America by providing advanced cloud services, supporting digital transformation, and ensuring comprehensive security, smart connectivity, and efficient storage solutions.

What is the projected growth of the cloud market in Central America and the Caribbean?

IDC projects the cloud market size in Central America and the Caribbean to reach $283.2 million in 2024, with a CAGR of 18.6% from 2023 to 2028.

What investments has Tigo Business made to support its cloud services?

Tigo Business has invested significantly in SD-WAN services, managed security, and multi-cloud offerings to consolidate its leadership in the regional market.

What is the focus of the partnership between Millicom (Tigo) and AWS?

The partnership focuses on enhancing cloud services, supporting digital transformation, and promoting digital inclusion and training in Latin America.