- Alibaba Group Holding Ltd's (NYSE:BABA) Alibaba Cloud and VMware Inc (NYSE:VMW) announced a jointly-developed public cloud service.
- The service would aid China's enterprises to support digital innovation with lower costs and risks.
- Alibaba Cloud VMware Service enables China's enterprises to migrate and modernize applications faster and seamlessly move workloads between on-premises VMware environments and Alibaba Cloud at scale.
- VMware Cloud Infrastructure Business Group SVP Mark Lohmeyer said, "Alibaba Cloud VMware Service helps customers modernize applications, infrastructure, and operations faster with demonstrable economic benefits and less risk."
- Alibaba VP Lijuan Chen said, "Alibaba Cloud VMware Service enables enterprises to seamlessly migrate workload to cloud and reduce the costs of both operations and migration." "It also helps enterprises leverage leading cloud technologies to further unlock the benefits of digital transformation."
- Price Action: VMW shares traded lower by 0.39% at $111.24 on the last check Wednesday.
