Microsoft is in advanced talks to acquire a strategic stake in homegrown budget hotel chain Oyo, according to reports. It is speculated that the deal could be announced in the coming weeks before Oyo’s proposed initial public offering (IPO). The timeline for the IPO has not been shared by the company. The yet-to-be announced deal with Microsoft values the SoftBank-backed startup Oyo at around $9 billion. As per the sources, the proposed deal may involve Oyo shifting to use Microsoft’s cloud services.
