Microsoft Corp will be investing in Ant-Group-backed Indonesian startup Bukalapak.
The deal terms are that the e-commerce platform will acquire Azure cloud and offer digital skills training to their startup employees and merchants.
The investment amount has yet to be disclosed but the deal has been confirmed.
Bukalapak is worth over $2.5 billion and has the backing from Singapore sovereign wealth fund GIC Pte Ltd as well as Emtek, the Indonesian media conglomerate.
Reports from Bloomberg show that current backers and Microsoft’s money will be estimated at around $2.5-$3 billion. $100 million of that investment will come from Microsoft, the report said.