By Pietro Lombardi

Intesa Sanpaolo SpA is teaming up with Alphabet Inc.'s Google and Telecom Italia SpA to accelerate its digitalization.

The parties signed a memorandum of understanding under which the Italian bank will get cloud services from Google using Telecom Italia's data centers, they said Thursday in a joint statement.

"The Memorandum of Understanding signed today aims to transform Intesa Sanpaolo into a Digital IT Company," said Massimo Proverbio, Intesa's chief of IT digital and innovation.

Write to Pietro Lombardi at pietro.lombardi@dowjones.com

(END) Dow Jones Newswires

May 21, 2020 06:38 ET (10:38 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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