Oracle (ORCL) has extended its partnership with India’s premier communications solutions provider, Bharti Airtel, to offer a wide range of cloud solutions to over 1 million enterprise customers in India. The partnership will aid India in its digital transformation endeavors.
Shares of the multinational computer technology company have gained 64% over the past year. (See Oracle stock charts on TipRanks)
Details of the Collaboration
According to the terms of the collaboration, Oracle will expand its Western India regional capacity in 2022 with Nxtra, the data center subsidiary of Airtel. With the expansion, Oracle’s next-generation cloud infrastructure combined with the Airtel Business network will help clients to innovate and speed up their business growth.
Furthermore, both companies will jointly market Oracle Cloud solutions as part of Airtel Business’ integrated portfolio to enterprise customers across private and public sectors.
In addition, both Oracle and Airtel intend to set up a Cloud Center of Excellence in Gurgaon. The center will work on several common initiatives, aid in the modernization of Airtel’s internal workloads, and allow customers to adopt the cloud.
Management Weighs In
Garrett Ilg, President of Oracle Japan and the Asia Pacific, commented, “The demand for Oracle Cloud Infrastructure (OCI) is on the rise. We’ve witnessed triple-digit growth in the business last year with more and more organizations of all sizes—ranging from top banks and telcos to governments and unicorns—in Asia, turning to OCI to run their mission-critical workloads.”
He further added, “We want to help customers build true business continuity and disaster protection, while helping them address their in-country data residence requirements.”
Wall Street’s Take
Consensus among analysts is a Hold based on 5 Buys, 13 Holds, and 1 Sell. The Oracle average analyst price target stands at $94.56, implying that shares are fairly valued at current levels.