Google to invest $1 Billion in CME group

Google to invest $1 Billion in CME group

The deal with CME marks a big win for Google’s cloud business, which competes against Amazon.com Inc and Microsoft Corp for large, lucrative contracts from blue-chip Fortune 500 companies. Under the terms of the 10-year partnership between Google and CME, the Chicago-based exchange company will begin deploying its technology infrastructure to Google Clouds next year.

The agreement with CME marks the major success of Google’s cloud business, which competes with Amazon.com Inc. and Microsoft Corp for major, profitable contracts from the blue-chip companies Fortune 500.

The agreement also provides Google with a foundation in the financial services sector, which is beginning to invest heavily in cloud computing services.

Google’s $ 1 billion investment has been the preferred stock option for CME, adds companies.

Read More: indiatimes

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