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SAP in cloud partnership with Microsoft

SAP and Microsoft - two of the biggest names in enterprise computing - together in a 3-year deal ...

To offer large business customers an easier move into the cloud.

Disclosed on Monday, the new partnership is called 'Embrace'.

It'll help clients run operations hosted at servers supported by SAP databases.

And thus address a complaint from some clients that it's too hard to shift from in-house to remotely-hosted services.

It wasn't the German firm's only announcement: it also confirmed its third-quarter results.

Cloud margins, it says, are up over five per cent to 69% - closing in on a 75 per cent target by 2023.

Earlier this month, SAP disclosed that new cloud bookings had more than doubled ...

Thanks to this deal.

Overall revenues for the firm are up 10 per cent.

Nor is it SAP's only new partnership ....

Monday's announcement came from Jennifer Morgan, who this month took over as co-chief executive with Christian Klein ...

The two appointed as a joint leadership after Bill McDermott announced he was stepping down.

The succession news boosted SAP shares by over 7 per cent on the day.