Benzinga | Nov 15, 2021 11:11AM EST

Key Takeaways From Telenor, Google Cloud Collaboration

* Telenor ASA (OTC:TELNF) (OTC:TELNY) and Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Cloud collaborated to digitalize the Norwegian telecom company's global operations and are exploring ways to offer services to customers jointly.

* The firms will use Google Cloud's services to boost Telenor's IT and network and collaborate to provide Telenor's customers with digital tools.

* Oslo-based Telenor serves 172 million customers.

* With networks increasingly reliant on software, Telenor needs to build a cloud-based business, and Google's abilities in providing data management knowledge, machine learning, and artificial intelligence make it a good fit, CEO Sigve Brekke said, Reuters reports.

* Among the first services, the two envisage jointly providing a platform to help small- and medium-sized enterprises (SMEs) transform to digital operations.

* Price Action: GOOG shares traded higher by 0.63% at $3011.8 in the premarket session on the last check Monday.