Microsoft Corporation (NASDAQ:MSFT) on Thursday boosted its partnership with Cloud Software Group through an eight-year strategic partnership agreement.

Under the deal, Cloud Software Group will make a $1.65 billion commitment to the Microsoft cloud and its generative AI capabilities.

To increase collaboration and productivity, Cloud Software Group will transition all its employees to Microsoft 365.

The collaboration will strengthen the go-to-market collaboration for Cloud Software's Citrix virtual application and desktop platform and support the development of new cloud and AI solutions with an integrated product roadmap.

Citrix is the preferred Microsoft Global Azure Partner solution for Enterprise Desktop as a Service when collaborating with joint Azure customers.

The two companies will collaborate closely to ensure customer success by providing customized solutions, expert advice, and assistance to speed up clients' migration to the cloud.

Citrix will utilize Microsoft Azure as its preferred cloud platform, granting Citrix users access to the full advantages of the Citrix platform alongside Azure Virtual Desktop and Windows 365.

Moreover, this partnership will enhance access to contemporary procurement options via Azure Marketplace, simplifying the renewal of Citrix solutions for customers.

"With Microsoft 365 as its collaboration platform and Microsoft Azure as its preferred cloud solution, Citrix is well positioned to deliver transformative solutions for our mutual customers at scale," said Judson Althoff, Executive Vice President and Chief Commercial Officer at Microsoft.

According to Benzinga Pro, MSFT stock has gained over 49% in the past year. Investors can gain exposure to the stock via ETF Opportunities Trust T-Rex 2X Long Microsoft Daily Target ETF (BATS:MSFX) and SPDR Select Sector Fund – Technology (NYSE:XLK).

Price Action: MSFT shares are trading higher by 1.75% to $427.82 on the last check Thursday.

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