Microsoft (MSFT) and OYO have inked a strategic partnership agreement to come up with next-generation products for the travel industry. The two are coming together to improve business opportunities for hotels and homeowners. The tech giant has also confirmed an investment in OYO.
Microsoft is a U.S. technology giant focused on enabling digital transformation through software and cloud offerings.
The strategic partnership will entail technological engagement between the two companies, with OYO being able to share its workloads on Microsoft’s cloud platform Azure. Oyo will also use the Microsoft 365 suite and GitHub Enterprise to accelerate its tech development.
The solutions that OYO and Microsoft will offer are aimed at helping patrons in the hospitality industry operate small and medium-sized storefronts. As part of the alliance, OYO will use the tech giant’s cloud offerings under Azure to enhance cloud-based innovations to transform the travel tech and hospitality industry. (See Microsoft stock charts on TipRanks)
OYO is to come with Smart Room Experiences designed to ensure guests in hotels enjoy customized in-room experiences. Consequently, hotels and homeowners will be able to use OYO technology to run operations addressing guest’s needs. Additionally, they should be able to leverage the security and scalability that comes with using Microsoft Azure.
Microsoft India President Anant Maheshwari stated, “It is inspiring to see how the Microsoft cloud is empowering digital natives like OYO to accelerate industry transformation and innovations, turning the challenges of a post-pandemic era into opportunities for the future.”
Recently, Jefferies analyst Brent Thill reiterated a Buy rating on Microsoft and raised the price target to $345 from $335, implying 16.06% upside potential to current levels.
Consensus among analysts is a Strong Buy based on 23 unanimous Buys. The average Microsoft price target of $329.68 implies 10.91% upside potential to current levels.
MSFT scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations.
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