EROS stock is a notable penny stock gainer in Thursday’s session as Eros International plc (NYSE:EROS) and Microsoft (NASDAQ:MSFT) have agreed to build a next-gen online video platform on Azure.
Investors Cheer the News
When a company manages to strike a deal with one of the biggest corporate behemoths in the world, then its stock is bound to skyrocket, and that is what has happened with EROS stock today. Today Eros International announced that it will be collaborating with Microsoft in order to build an online video platform. The product is meant for the customers of Microsoft Azure all over the world. Azure is Microsoft’s cloud business and boasts of having some of the biggest companies as its client.
Thie collaborative online video platform could help Microsoft in getting a definite edge in this highly competitive space, and the tech giant sees the company as the perfect collaborator for the project. Eros Now is an Indian company, and it is now going to use Azure in order to build the platform across three areas.
As soon as the news hit the wires, EROS stock rallied by as much as 28% to $3.27 and is showing great momentum to sustain the gains.
First of all, Eros International is going to help build an Azure Content Delivery Network that will deliver content to all Azure customers with ease. The other area of development is Interactive Voice Offering, all of which will be provided to the consumers as well. Last but not least, a Personalized Recommendation Engine will be developed that will provide customers with curated choices as far as content is concerned.
The Chief Executive Officer of Eros, Rishika Lulla Singh, stated, “The objective and the goal of this collaboration is to ensure we become the primary innovators for the video business and a gold standard for the others to follow.” As everyone knows, the online video streaming and content delivery space is going to explode in the years to come. It is, therefore, only natural for Microsoft to get into space in a big way.
Despite today’s big gains, EROS stock is still down 60% since the beginning of this year.
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