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Amazon to sell China cloud services unit in $300 million deal

Amazon.com Inc?s Chinese partner, Beijing Sinnet Technology Co., said it would purchase Amazon?s Chinese web services business for up to 2 billion yuan ($301 million), ending the U.S. firms?s cloud-computing business in the country. Sinnet, which began operating the Amazon services in August 2016, said in a filing late on Monday the pending purchase would help the unit ?comply with local laws and regulations and further improve service quality and security.? Amazon did not immediately respond to a request for comment on Tuesday morning.
Source: Latest News

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