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RapidCloud International PLC teams up with Alibaba

Shares shot up 39% with the news that RapidCloud’s new strategic partner was Chinese e-commerce firm Alibaba.
RapidCloud International PLC teams up with Alibaba
The partnership with Jack Ma’s Alibaba is seen as ‘a strong endorsement’.

RapidCloud International PLC (LON:RCI) shares jumped nearly 40% in early deals after the AIM firm unveiled a new partnership with Alibaba.com.

The new strategic partnership with AliCloud, Alibaba Group’s international business and cloud computing arm, opens up RapidCloud to a larger customer base.

It will let RapidCloud offer AliCloud's public cloud infrastructure, consulting, managed services, training and support across its offices in South East Asia, the AIM company said.

RapidCloud’s key products will also be made available to the Chinese e-commerce giant’s customers.

Raymond Chee, RapidCloud managing director, said: "We are delighted to be partnering with AliCloud, one of the market leaders in the global public cloud computing industry.

“The ability to offer our products globally and in China through AliCloud's platform will give us an opportunity to provide our services to a wider audience.

“We also look forward to various marketing activities that will be undertaken by all relevant parties in the partnership to create success.

“This partnership is a strong endorsement by a global company and we are confident that it will contribute materially to our growth in the cloud computing business.”

On AIM, RapidCloud shares were up 13.5p, 39%, trading at 48p each.

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