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Telecom Italia, Google Cloud Sign Partnership Agreement

https://ih.advfn.com/stock-market/NASDAQ/alphabet-GOOG/stock-news/81918614/telecom-italia-google-cloud-sign-partnership-agre
By Mauro Orru

Telecom Italia SpA said late Wednesday that it has signed an agreement with Google Cloud to help Italian companies and public sector organizations to harness cloud technologies.

Telecom Italia said it aims to achieve 1 billion euros ($1.11 billion) in revenue and EUR400 million in earnings before interest, taxes, depreciation, and amortization by 2024, with an increased contribution from technology services.

Telecom Italia said Italian companies and public sector organizations would be able to use the company as their cloud infrastructure and services provider.

"This strategic partnership with Google places Telecom Italia among the Italian key players in cloud and edge computing, two markets that will become more and more central with the deployment of 5G technology and artificial intelligence," said Telecom Italia Chief Executive Luigi Gubitosi.