Key Takeaways From Telenor, Google Cloud Collaboration

Telenor ASA TELNF TELNY and Alphabet Inc's GOOG 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.