Alphabet’s (GOOGL) Google Cloud has announced a multi-year strategic partnership with Bell Canada to modernize the latter’s infrastructure and enhance the delivery of next-generation customer experiences. In addition, the two will collaborate throughout the next decade in new innovations around cloud solutions for enterprise customers.
Under the terms of the agreement, Google Cloud is to support Bell’s digital transformation, focusing on IT infrastructure development. A merger of Bell’s 5G network and Google Cloud’s expertise should result in the delivery of unique experiences for the Canadian company’s customer base.
Additionally, Alphabet’s cloud unit has committed to enhancing Bell’s operational efficiencies through network automation. It also plans to modernize the Canadian company’s IT infrastructure and enable the transfer of critical workloads to the cloud. (See Alphabet stock charts on TipRanks)
In return, Bell hopes to deliver a unique customer experience with enhanced automation by merging its 5G network and Anthos with Google’s multi-cloud solution. The company also plans to assist with network capacity planning by leveraging Google Cloud’s artificial intelligence (AI), data, and analytics.
“We’re proud to partner with Bell to support their transformational shift to the cloud, and power a better network experience for people and businesses across Canada,” said Google CEO Thomas Kurian said.
Recently Monness analyst Brian White reiterated a Buy rating on Alphabet and a price target of $3,000, implying 18.11% upside potential to current levels.
Consensus among analysts is a Strong Buy based on 26 Buys and 2 Holds. The average Alphabet price target of $2,809 implies 10.59% upside potential to current levels.
GOOGL scores an 8 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.