- Softchoice (TSX:SFTC) stock rose 6.5 per cent after news it added Cloud Cost Optimization service to its managed services portfolio
- The software-focused IT solutions provider partnered with VMware Aria Cost, who holds Cloud Cost Optimization under its managed services portfolio
- Cloud Cost Optimization works for public, private, sovereign, and hybrid clouds, designed to optimize cloud costs and help customers manage multi-cloud operations
- Softchoice Corp. opened trading at C$16.20 per share
Softchoice (TSX:SFTC) stock rose 6.5 per cent after news it added Cloud Cost Optimization service to its managed services portfolio.
The software-focused IT solutions provider partnered with VMware Aria Cost, which holds Cloud Cost Optimization under its managed services portfolio. Cloud Cost Optimization works for public, private, sovereign, and hybrid clouds and is designed to optimize cloud costs and help customers manage multi-cloud operations.
Abhay Kumar, VP for hyperscalers and technology partners at VMware explained in a news release that modern apps are fuelling the next wave of enterprise innovation and driving multi-cloud adoption. Yet, implementing multi-cloud can be complex and costly if not handled properly, with 76 per cent of multi-cloud organizations report needing to improve control over their cloud costs.
“With their new Cloud Cost Optimization service, Softchoice can help our mutual customers in their aims to simplify financial management, streamline operations, and improve cross-organizational collaboration across their multi-cloud environment,” Kumar said in a statement.
Softchoice recently released its Q2 2023 financial results, reporting 10.4 per cent growth in gross profit in its software and cloud strategic focus area, which resulted in a 1.5 per cent or US$1.3 million increase in gross profit compared with Q2 2022.
Softchoice Corp. designs, procures, implements, and manages multi-vendor information technology solutions that enable its customers’ digital transformations using a results-oriented engagement model. The company’s technology solutions include cloud and data centre, collaboration and digital workplace, information technology asset management, network and security.
Softchoice Corp. opened trading at C$16.20 per share.
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