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Data hub: Google invests $2 billion in Poland

It’s the firm’s first investment of nearly $2 billion for a data hub in the Central and Eastern European region

On Wednesday, the US tech giant – Google launched a new cloud data hub in Warsaw, in Poland. It’s the firm’s first investment of nearly $2 billion for a data hub in the Central and Eastern European region.

Prime Minister Mateusz Morawiecki hailed the new data hub saying it would ensure “better service from private and public entities” and strengthen security because the data would be stored in Poland.

“We hope that the new Google Cloud region will help in recovery from the pandemic and will contribute to a thriving digital economy in Poland and the neighbouring countries,” Magdalena Dziewguc, Google Cloud’s country manager, said in a statement.

US embassy charge d’affaires Bix Aliu said US companies have invested around $60 billion in Poland and Google “is adding close to $2 billion to that number by expanding cloud services”.

Since the fall of communism three decades ago, Poland’s economy last year went into recession for the first time because of the coronavirus crisis but it is expected to bounce back this year.

The government has put an emphasis on developing the tech sector.

Microsoft announced last year that it would invest one billion dollars in Poland to expand its operations, including the creation of a new regional cloud-computing data hub.

In providing cloud services, an industry worth hundreds of billions of dollars, Googleand Microsoft are among the global leaders.

As well as charging for the service, cloud operators are able to harvest huge amounts of data and open up many other revenue streams.

Also read:Digital transformation: A required change and a new operating model in the BFSI industry

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khushbu Soni CIO News Mercadeo
Khushbu Sonihttps://www.cionews.co.in
Chief Editor - CIO News | Founder & CEO - Mercadeo

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