It may not appear on every site’s FAQ, but here’s a two-part question that’s important to ask when it comes to businesses’ strategic partnerships and what that means for consumers and even industries at large:
“What are MOUs, and why should we care?”
Here’s a two-part answer, and it lines right up with our smart city-centric news:
Generally speaking, for any unaware, a Memorandum of Understanding (MOU) is the defined agreement between two parties that’s a.) formalized in an official document, and b.) outlines clarified communications of mutually beneficial goals. They’re not too far removed from, say, letters of intent; they communicate and confirm the intentions of each party, and how initial desire to practical completion is detailed quite clearly.
Think of it, if you’d like to, as a really well-plated appetizer before dinner is wheeled out and served. The appetizer, although not the same as the main course, should basically be a tasty vote of confidence before everything else hits the table.
That’s an MOU; a vote of confidence, in a sense. MOUs can be great assets to business relations; they reduce known risks and miscellaneous uncertainties, prevent possible future disagreements, align objectives for success, and ideally provide a framework for cooperation. (Note: Though formal, MOUs are not replacements for legal partnership contracts, for example; rather, they’re agreements of good faith that can make legal proceedings much easier.)
So, here’s also why Smart City Sentinel readers should care:
Two companies – OpenNebula Systems and 5SKYE – have officially signed an MOU that indicates real confidence in the joint development and deployment of 5G densification, Multi-Access Edge Computing (MEC), and open-source cloud edge solutions.
Together, OpenNebula And 5SKYE are agreeing to accelerate the deployment of advanced edge cloud computing infrastructure in order to promote faster speeds, lower latency, and higher bandwidth for smart city initiatives; improved mobile network operations that smart cities (and their citizens) depend on, as well as the overall digital transformation necessary for public and private networks in a smart-enabled, modernized age.
Under this agreement, both parties will leverage their expertise to jointly develop the right solutions, products, and services for public entities and private enterprises that are seeking enhanced connectivity, improved network performance, and efficient ecosystem management.
Per Jean-Christophe Mollett, COO of 5SKYE Smart City Infrastructure:
“Our partnership, outlined in the MOU, focuses on key areas of cooperation. These include knowledge and experience sharing, collaborative research and development, joint solutions development and testing with mobile network operators and other ecosystem partners. By working together, we aim to drive innovation, create cutting-edge solutions, and foster a robust ecosystem that benefits smart cities and their residents.”
And per Ignacio M. Llorente, CEO of OpenNebula Systems:
“We are excited to join forces with 5SKYE Smart City Infrastructure, an esteemed partner in the smart city industry. Through this strategic collaboration, we aim to pioneer ground-breaking advancements in cloud edge computing, enabling us to deliver enhanced connectivity and network performance. Together, we will reshape the urban landscape, driving transformative innovation and fostering a more connected and sustainable future for smart cities worldwide.”
Edited by
Greg Tavarez
