Microsoft continues to bolster its cloud computing capabilities with its latest acquisition of Mover—a Canadian startup whose software will allow users to get files from another service into the Microsoft 365 cloud. Mover was founded in 2012 and boasts a client list that includes AutoDesk, Symantec and BuzzFeed.
“I’m excited to announce that Microsoft has acquired Mover, a leading provider of cloud file migration, including admin-led and self-service offerings,” wrote Jeff Teper, corporate vice president for Office, SharePoint and OneDrive at Microsoft in a blog post. “As customer demand to move content to the cloud continues to grow, Mover will help make it easier than ever for customers to migrate files to Microsoft 365.”
“Our goal is to help customers move to the cloud with confidence,” wrote Teper. “Today, we offer several options to support cloud file migrations, including FastTrack and offerings from trusted Microsoft partners, as well as the SharePoint Migration Tool for migrating content from on-premises SharePoint sites and file shares to Microsoft 365. Mover will enhance these offerings with proven tools, plus more self-service options over time.”
Although you can’t see it, the impact of cloud computing can be felt as more companies are utilizing the technology at a rapid pace to power their core businesses. That’s why Global X ETFs, the New York-based provider of exchange-traded funds, recently launched the Global X Cloud Computing ETF (Nasdaq: CLOU).
Seeking to track the Indxx Global Cloud Computing Index, the fund holds a basket of companies that potentially stand to benefit from continuing proliferation of cloud computing technology and services.
The cloud computing industry refers to companies that:
- license and deliver software over the internet on a subscription basis (SaaS)
- provide a platform for creating software applications which are delivered over the internet (PaaS)
- provide virtualized computing infrastructure over the internet (IaaS)
- own and manage facilities customers use to store data and servers, including data center Real Estate Investment Trusts (REITs), and/or
- manufacture or distribute infrastructure and/or hardware components used in cloud and edge computing activities.
Microsoft’s Intelligent Cloud segment is shored up by products like Azure, SQL Server, Windows Server, Visual Studio, System Center, consulting services and support. In particular, the growth of Azure is at 64 percent on an annualized basis in the fiscal fourth quarter.
As more and more companies are shifting their business processes to cloud computing, the demand for products like Azure will continue to experience growth.
For more market trends, visit ETF Trends.