Microsoft (MSFT) and Southeast Asia’s online platform Grab enters into a strategic partnership in which the former will invest an undisclosed amount in the latter. Grab will also use Microsoft Azure as its preferred cloud platform to strengthen its digital services across Southeast Asia.
As per the deal terms, the Redmond-based tech giant will make a strategic investment in Grab. Both the companies didn’t reveal how much the investment is. “Our partnership with Grab opens up new opportunities to innovate in both a rapidly evolving industry and growth region,” said Peggy Johnson, EVP at Microsoft.
The Singapore-based ride-hailing service provider will adopt Microsoft’s cloud platform Azure, utilizing the company’s intelligent cloud and AI know-hows to move up Grab’s platform efficiently and thereby increasing its competency.
Founded in 2012, Grab currently offers its services in 235 cities across Singapore, Indonesia the Philippines, Malaysia, Thailand, Vietnam, Myanmar, and Cambodia. The company provides commuting, food delivery, and payment solutions through its app.
Grab believes that Microsoft’s machine learning and AI capabilities, as well as Azure’s data analytics, will improve its customer services. “This partnership signals a deep collaboration with Microsoft on an array of technology projects, including big data and artificial intelligence, that will transform the delivery of everyday services and mobility solutions in Southeast Asia,” said Ming Maa, President of Grab.
In early August, Grab raised $2 billion through a Series-H funding in which Toyota was the main investor apart from some global financial institutions. As per Crunchbase, the company had raised so far $6.1 billion through various rounds of funding.
Meanwhile, shares of Microsoft which hit a fresh 52-week high ($116.18) on October 3, are trading up about 2% during Tuesday’s morning session from yesterday’s closing price of $110.85.
Leading stock indexes retreated after gaining mid-week when Wall Street biggies like Apple and Amazon reported impressive quarterly numbers. The Dow Jones Industrial Average was down 190 early Friday, while
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