Google and Nokia: a cloud partnership

October 15, 2020

Nokia is going to fully migrate to Google's IT infrastructure

The middle of the week came with news about a deal between two important tech companies: the American Google and the Finnish Nokia signed an agreement.

Nokia announced that it is looking to fully migrate its IT infrastructure to Google #Cloud through a five-year deal, adding that the migration could occur “over an 18 - to 24-month period.” The deal is to “drive meaningful operational efficiencies and cost savings over time due to a reduction in real estate footprint, hardware energy consumption, and hardware capacity purchasing needs.”

This is not only beneficial to Nokia but also to Google, allowing the #tech behemoth to continue building up the public cloud business sales and the headcount. In 2019, the company's CEO, Sundar Pichai, said that he is looking to triple the salesforce in the next few years.

Nokia is not the first company to use Google's public cloud services, joining companies like PayPal, Snap, Twitter, Netflix, and many more.

The market doesn't seem to applaud Nokia's decision, making shares trade 1.47% lower. Alphabet stock is at -0.40%.

Sources: thestreet.com, finance.yahoo.com

This information prepared by ClickTrades.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.

Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of ClickTrades.com.