BEIJING, Dec. 30, 2019 (GLOBE NEWSWIRE) -- 21Vianet Group, Inc. (Nasdaq: VNET) ("21Vianet" or the "Company"), a leading carrier- and cloud-neutral Internet data center services provider in China, today announced that it has signed an agreement with Alibaba to initiate the second phase of construction as part of the previously announced memorandum of understanding (the “MoU”). The construction is planned to be completed in different stages. The first building is expected to be completed by the first half of 2020. During the contract term, the first building is expected to generate revenue of over RMB600 million.
Mr. Alvin Wang, Chief Executive Officer and President of 21Vianet, stated, “We are excited to move forward with Alibaba in the second phase of IDC service deployment as we continue to help them expand throughout Eastern China. In light of the rising demand for dedicated hosting solutions, we plan to continue leveraging our differentiated offerings to secure new market opportunities and cultivating our relationships with industry partners. Such partners have a strong desire for large-scale and hyperscale IDC services that are both reliable and capable of consistently operating at a high level of performance.”
21Vianet Group, Inc. is a leading carrier- and cloud-neutral Internet data center services provider in China. 21Vianet provides hosting and related services, including IDC services, cloud services, and business VPN services to improve the reliability, security and speed of its customers' Internet infrastructure. Customers may locate their servers and equipment in 21Vianet's data centers and connect to China's Internet backbone. 21Vianet operates in more than 30 cities throughout China, servicing a diversified and loyal base of nearly 5,000 hosting and related enterprise customers that span numerous industries ranging from Internet companies to government entities and blue-chip enterprises to small- to mid-sized enterprises.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.
Safe Harbor Statement
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Investor Relations Contacts:
21Vianet Group, Inc.
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Source: 21Vianet Group, Inc.