FedEx's Shares Rise on Shipments Partnership With Microsoft
May 18 2020 - 1:15PM
Dow Jones News
By Maria Armental
FedEx Corp. and Microsoft Corp. struck a strategic partnership
to offer customers more control over and insight about global
shipments.
FedEx's shares rose nearly 9% to $116.87, while Microsoft gained
1.1% to $185.16.
The partnership combines FedEx's logistics network with
Microsoft's cloud.
FedEx Surround, the first offering under the companies'
collaboration, would give customers near-real-time insights, down
to a ZIP Code level. In addition to more information about a
package's location, customers would also know more about global
commerce conditions and challenges that could affect shipments,
such as severe weather or natural disasters, mechanical delays or
incorrect addresses.
"Now more than ever, organizations are counting on an efficient
and capable supply chain to remain competitive and open for
business," Microsoft Chief Executive Satya Nadella said in a
statement. "Together with FedEx, we will apply the power of Azure,
Dynamics 365 and their AI capabilities to this urgent need,
building new commerce experiences that transform logistics for our
mutual customers around the world."
Financial terms weren't disclosed.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
May 18, 2020 13:00 ET (17:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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