Microsoft says it plans to buy Amazon’s cloud computing business for $3.4 billion
Microsoft will buy the cloud computing company Amazon for $2.4bn, the company said Wednesday.
Microsoft will make the acquisition public on Friday.
The deal will include an agreement to merge Microsoft Azure with Amazon’s AWS cloud computing service, and Microsoft’s cloud-based cloud services will continue to be sold on Amazon’s platform.
Microsoft has been ramping up its cloud services as the cloud becomes more popular, and Amazon’s pricing has remained high.
Microsoft has also pushed to offer its cloud offerings as part of a suite of Microsoft Office 365 products.
Amazon is now the third-largest cloud computing provider in the world behind Google and IBM.
Amazon said in February that it was looking for a buyer for its cloud-hosting business, which is part of Microsoft’s enterprise cloud strategy.
It also said in August that it would be selling some of its cloud businesses to Microsoft.