Nutanix jumps after announcement of Google cloud partnership
Shares of Nutanix (NTNX) are rising in pre-market trading after the company and Google parent Alphabet (GOOG) announced a partnership via which Nutanix customers will be able to easily move application workloads to Google’s cloud, according to CNBC.
Nan Boden, Google’s head of global alliances, told CNBC that in terms of the public cloud, “you have to meet them where they are — that’s becoming increasingly clear.”
The first integration resulting from the partnership, which will enable applications to move from on-premise data centers to Google’s, will become available in the first quarter of 2018. Pricing details aren’t available, CNBC noted.
The deal is another indication that Nutanix, which held its IPO last year, is now embracing the public cloud as a viable infrastructure choice. Simultaneously it reflects how Google is becoming more receptive to the needs of enterprises.
NTNX closed at $18.64. The issue has a 52-weeks trading range of $14.38 – $46.78.
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