Microsoft Corp (NASDAQ: MSFT) and ServiceNow (NYSE: NOW) have announced a strategic partnership intended to integrate the companies' products, platform and cloud capabilities.

This will make ServiceNow one of Microsoft's strategic partners in its Global ISV Strategic Alliance Portfolio. ServiceNow will also house its full SaaS experience on Azure in addition to its own private cloud.

Through the partnership, the two companies will enable enterprise customers in certain regulated industries, as well as government customers, to accelerate their digital transformation.

Microsoft shares were trading down 0.59% at $136.15 in Tuesday’s pre-market session. The stock has a 52-week high of $138.40 and a 52-week low of $93.96.

ServiceNow shares were trading up 0.25% at $293.73. The stock has a 52-week high of $294.62 and a 52-week low of $147.63.

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