Cloud computing is changing the telco business model: Traditional telecom offerings migrate into the cloud and evermore over-the-top (OTT) players enter the telco value chain. Corporate CIOs should not ignore the network-centric nature of cloud-based solutions when developing their cloud strategies. Cloud solutions will increasingly be delivered by ecosystems of providers that include telcos, software, hardware, network equipment vendors, and OTT providers. Telcos have a chance to grow into the role of ecosystem manager, leveraging their network and financial assets. This report investigates how cloud computing affects the evolution of network products and services. It scrutinizes the relationship between telcos and business customers as well as opportunities regarding cloud solutions based on intelligent networks. The report helps CIOs better evaluate the potential of telcos as providers of network-centric cloud-based solutions by painting the likely development scenario of cloud computing in the telco space.