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LiveTiles share price rockets 27% higher on Microsoft partnership news

ASX tech shares

The LiveTiles Ltd (ASX: LVT) share price has been one of the best performers on the All Ordinaries index on Wednesday.

In afternoon trade the intelligent workplace software provider’s shares are up 27% to 51.5 cents.

Why is the LiveTiles share price rocketing higher?

Investors have been scrambling to get hold of the company’s shares today after it announced that Microsoft has selected it as a key partner in its latest major product launch.

According to the release, Microsoft has introduced “home sites” to the Modern SharePoint feature suite in a keynote speech at the SharePoint Conference in Las Vegas today.

SharePoint home sites is a dynamic, engaging, and personalised employee experience for organisations.

It acts as a landing page for an organisation and connects the workplace with Microsoft Search and megamenu navigation. Users can share relevant news and content to each other based on their role and place in the organisation.

It has been designed to engage employees with conversation and compelling video and powers individual productivity with personalised content, information, and navigation.

How does LiveTiles benefit?

The release explains that LiveTiles’ product suite extends and enhances the SharePoint home sites experience to deliver powerful, personal, and enterprise grade intranet experiences.

These solutions have been built upon several years of deep experience and have now delivered some of the world’s largest intranets.

One new user will be global pharmaceutical company Novartis. Today LiveTiles revealed that the pharma giant has announced its new global corporate intranet utilising SharePoint home sites and LiveTiles-owned Wizdom software.

The company’s chief executive officer and co-founder, Karl Redenbach, is delighted with the development.

He said: “Microsoft’s commitment to the evolution of SharePoint aligns perfectly with our own product roadmap. We are more than delighted to be chosen as a partner to launch and extend the home sites and Modern SharePoint capabilities for customers.“

He added: “This launch and new customer announcement have further strengthened the relationship between Microsoft and LiveTiles, and will drive even stronger joint sales and marketing activities to enterprise customers across the globe. LiveTiles is thrilled to support Novartis as a recently signed Wizdom customer as the Company continues to rapidly grow its global enterprise customer base.”

Elsewhere in the tech sector on Wednesday, small caps Catapult Group International Ltd (ASX: CAT) and Citadel Group Ltd (ASX: CGL) have both charged over 5% higher.

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Teresa Kersten, an employee of LinkedIn, a Microsoft subsidiary, is a member of The Motley Fool’s board of directors. James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Microsoft. The Motley Fool Australia owns shares of and has recommended Catapult Group International Ltd. The Motley Fool Australia has recommended Citadel Group Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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