Microsoft to extend its cloud services to Poland with an £800 million investment
- Microsoft says it will invest £800 million in Poland to establish a data centre for cloud services.
- The U.S tech giant signed a deal with Poland’s domestic cloud provider called Chmura Krajowa.
- The £1.09 trillion technology giant hints at an all-new Windows 10X for laptops later this year.
In an announcement on Tuesday, Microsoft Corp. (NASDAQ: MSFT) said that it plans on investing £800 million in Poland directed at the establishment of a data centre to extend its cloud services to businesses across the country and government institutions.
Microsoft also highlighted to have signed a deal with Poland’s domestic cloud provider called Chmura Krajowa that translates to “National Cloud”, to offer its cloud services in the country. Poland is currently seeking to become a centre for technology in central Europe.
Poland’s Prime Minister’s comments on the news
Are you looking for fast-news, hot-tips and market analysis? Sign-up for the Invezz newsletter, today.
Prime Minister Mateusz Morawiecki of Poland also commented on the news and said:
“I deeply believe that Microsoft’s investment in Poland will be important for enterprises, public institutions and the education system and will enable them to digitally transform and implement new work standards.”
As Coronavirus restricts businesses to work-from-home arrangements, Microsoft’s cloud services have been greatly in demand in recent months as evident in its quarterly earnings report last week that posted a 15% increase in sales that the company attributed primarily to its cloud business. The U.S company also topped analysts’ estimates for earnings and revenue in the fiscal third quarter.
The establishment of Chmura Krajowa in Poland dates back to 2018. The domestic cloud provider was a joint venture between the Polish Development Fund (PFR) and PKO Bank Polski, that is the largest bank of Poland. According to the website, the National Cloud was aimed at ramping up Poland’s efforts in digitalising public administration and businesses at large.
As per Microsoft’s announcement, it will hold its partnership with Poland for seven years during which the company will engage in training the Polish workforce in cloud-based technology.
Microsoft to release Windows 10X for laptops
In separate news, Microsoft recently acknowledged a massive increase in global Windows users as the U.S tech giant hinted at the release of an all-new Windows 10X for laptops later this year.
At £143 per share, Microsoft is currently a little over 10% up year to stock in the stock market. The company printed a record-high of £151 per share earlier this year in February which was followed by a low of £110 per share in late March.
In 2019, Microsoft’s performance was reported largely upbeat with an annual gain of more than 50%. At the time of writing, the tech giant has a market cap of £1.09 trillion and a price to earnings ratio of 29.78.