Amazon To Sell Part Of Cloud Computing Business for $301 Million

15 November, 2017, 01:26 | Author: Franklin Nunez
  • Amazon to sell China cloud services unit in $300 million deal

The spokesperson added that the company was excited about its business in China and its potential for growth.

Amazon said that it will sell few physical assets only and own the intellectual property of Amazon Web services (AWS) worldwide.

Amazon.com Inc. agreed to sell some of its Chinese cloud assets to its local partner but said it's committed to a domestic market for internet-based computing that could be worth $30 billion.

Beijing Sinnet Technology said Tuesday it would buy parts of Amazon's (NASDAQ: AMZN) cloud business in China for up to two billion Chinese yuan ($301 million U.S.), but the US e-commerce giant said it was not exiting the world's second-largest economy.

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Regulators in China have tightened rules on cloud services and foreign data, implementing new measures of surveillance and increasing the scrutiny of data transfer that cross borders.

Amazon isn't the only one to make decisions based off a desire to stay in China.

"Chinese law forbids non-Chinese companies from owning or operating certain technology for the provision of cloud services", the US firm said.

AWS has another hardware venture with the provincial government in Ningxia located in the northwest region of China. But the USA company has to deal with lawsintroduced this year that mandate the storage of data within the country and bolster government control over the movement of information.

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In August Sinnet told customers it would begin shutting down VPNs and other services on its networks that allow users to circumvent China's Great Firewall, citing direct instructions from the government.

Microsoft, Apple, Oracle and IBM also face challenges in localising their data storage units in China because of new laws coming into effect.

AWS first launched a China service in 2014, but must operate via local partners to comply with Chinese law, with companies required to store data locally in legislation enacted in June.

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