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Box Inc (BOX) Stock Jumps on Microsoft Azure Partnership

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Box Inc (NYSE: BOX ) stock was up Tuesday on news of a deal with Microsoft Corporation (NASDAQ: MSFT ).

Box Inc (BOX) Stock Jumps on Microsoft Azure Partnership

The deal will have Box Inc working together with Microsoft Azure. This includes allowing enterprise customers to buy both products at the same time. It will also allow some functions of its cloud content managing software to work with Azure.

Box Inc also notes that the deal will make it so that Microsoft Azure's Cognitive Services will extend to work with its own offerings in the future. The company says that this may include integrating the services for content processing. This could allow it to generate metadata that customers can use to search for similar content.

Box Inc says that it will also be able to use Microsoft Azure to expand the presence of Box Zones. This is the company's software for letting users store data in-region. It is currently available in eight countries, but will likely come to more with the help of Azure.

Aaron Levie, cofounder and CEO of Box Inc, says that "Box and Azure together can unlock incredible opportunities for innovation." Scott Guthrie, the Executive Vice President of Microsoft Corporation's Cloud and Enterprise Division, echoed Levie's commitment to innovation in his own statement.

The offer to purchase Box software and Microsoft Azure at the same time is expected to show up later this year .

BOX stock was up 2% as of Tuesday morning and is up 41% year-to-date.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

The post Box Inc (BOX) Stock Jumps on Microsoft Azure Partnership appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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