Vodafone announced on Tuesday the signing of a ten-year strategic partnership with Microsoft, with the aim of bringing new digital services to more than 300 million businesses.

Under the terms of the agreement, Vodafone plans to invest $1.5 billion in a range of cloud and artificial intelligence projects to be carried out in collaboration with Microsoft.

In return, the American software giant intends to invest in Vodafone's Internet of Things (IoT) managed connectivity unit, which will become independent next April.

The agreement also provides for Microsoft to use Vodafone's fixed and mobile services.

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