Alphabet (GOOGL) Google Cloud Extends Partnership With CSRA
Zacks Investment Research | Mar 25, 2018 10:45PM ET
Recently, Alphabet Inc.’s (NASDAQ:GOOGL) Google Cloud has partnered with CSRA (NYSE:CSRA) , a provider of information technology services and solutions to the U.S. federal government customers. Per the new alliance, CSRA will leverage Google Cloud Platform and G Suite products to the IT needs of government customers.
The latest deal is an extension of Google’s ongoing partnership with CSRA. Thanks to the move, Google Cloud’s exposure in the government market is likely to increase. Per the report by Markets and Markets, government cloud market is expected to grow at a CAGR of 13.4% between 2017 and 2022. Further, according to the latest report of P&S Market Research, the cloud market in government sector is expected to reach $49.2 billion by 2023.
The market size of the platform will also expand. Moreover, the deal strengthens the company’s client base and will drive its top line.
CSRA’s product portfolio will also strengthen and will help in acquiring more federal contracts by improvising its key offering of IT solutions. In February 2018, the company signed a million dollar deal with Uniformed Services University of Health Science with the earlier expansion of its partnership with Google.
Coming to the price performance, shares of Alphabet have returned 22.5% over a year, outperforming the the complete list of today’s Zacks #1 Rank stocks (Strong Buy) here.
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