• Canadian Tire (TSX:CTC) and Microsoft (NASDAQ:MSFT) are partnering to drive retail innovation and contribute to adoption of new technology
  • Canadian Tire will leverage Microsoft Azure to modernize its systems and infrastructure and utilize direct access to Microsoft’s cloud products and solutions, expertise, and upskilling capabilities
  • The national retailer will use these new abilities to increase the speed and efficiency of its business modernization, enhancing customers’ omnichannel journey and brand experiences across its group of companies
  • Canadian Tire Corp. (CTC) opened trading at C$288.08 per share and Microsoft Corp. (NASDAQ:MSFT) opened trading at C$442.70 per share

Canadian Tire (TSX:CTC) and Microsoft (NASDAQ:MSFT) are partnering to drive retail innovation and contribute to adoption of new technology.

Canadian Tire will leverage Microsoft Azure to modernize its systems and infrastructure and utilize direct access to Microsoft’s cloud products and solutions, expertise, and upskilling capabilities.

The national retailer will use these new abilities to increase the speed and efficiency of its business modernization, enhancing customers’ omnichannel journey and brand experiences across its group of companies.

Microsoft will become Canadian Tire’s cloud provider and the company will migrate the majority of its IT infrastructure onto the Microsoft Azure platform.

With an aim to enhance digital capabilities, the two corporate giants will explore co-innovation opportunities that leverage artificial intelligence (AI) and machine learning to enhance customer experience, optimize operations and unlock new opportunities for Canadian retail.

Canadian Tire’s president and CEO, Greg Hicks, said this partnership will enable his company to further modernize its capabilities and systems, rapidly expediting its digital transformation and adaptability, a key component of its growth strategy.

“By combining our unrivalled understanding of Canadians with Microsoft’s cutting-edge technology and expertise, we will achieve greater stability and scale and unleash our collective expertise to drive exciting retail innovation not only at CTC but across Canada,” Hicks said in a statement.

This partnership is set for a seven year term.

Canadian Tire Corp. (CTC) opened trading at C$288.08 per share and Microsoft Corp. (NASDAQ:MSFT) opened trading at C$442.70 per share.

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