Microsoft and Telefonica Joint Technology Ventures

U.S. software giant Microsoft MSFT.O and telecoms multinational Telefonica TEF.MC have agreed to develop technological and commercial initiatives jointly, the companies said on Tuesday.

The agreement will allow Microsoft to use Telefonica communication services in its countries of operation as well as improving Telefonica's information systems, they said in a statement.

The companies said they would also develop wireless services, such as trying to allow Hotmail users to send email messages from mobile phones, and try to increase the broadband market, which offers faster access to the Internet.

"(This) will translate into new services for consumers and companies," Microsoft Chairman Bill Gates said.

He told business executives at a lecture in Madrid on Monday that his only hardware dream not to be realized was the widespread adoption of broadband, because of its high cost.

The companies said they would work on initiatives to offer software as a service, by constructing personal web pages for their clients and for companies.

News source: Reuters

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