SPLK Stock Alert: What to Know as Splunk Extends Partnership With Amazon
Splunk (NASDAQ:SPLK) stock is on the move Thursday morning following news of an extended partnership with Amazon (NASDAQ:AMZN).
The newest extension adds an additional five years to its agreement with Amazon Web Services. This has Splunk continuing to offer its data analyzing services to customers with the help of Amazon’s cloud computing platform.
To go along with this, Splunk has released a public preview of its add-on for Amazon Security Lake. This is available on the Splunkbase marketplace and allows customers to build their own security data lake. That includes “integrated cloud and on-premises data sources,” as well as private applications.
Ruba Borno, Vice President of Worldwide Channels and Alliances at AWS, said the following about the expansion:
“The strength of our collaboration with Splunk is amplified by our commitment to co-innovation and exceptional, data-driven outcomes for our joint customers […] The focus of our collaboration is fueled by supporting our customers’ cloud migration journey, sustainability initiatives and strategies that expedite digital transformation and drive success.”
What This Means for SPLK Stock
An expanded deal with Amazon is good news for SPLK stock. It means the two companies will continue to work together to provide customers with important data services. More business is better for Splunk and this latest agreement ensures another five years of collaboration.
SPLK stock investors are also reacting well to today’s news with the company’s stock up 8% in pre-market trading Thursday morning.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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