(Bloomberg) -- Microsoft Corp. is boosting its rivalry with Google Inc., Box Inc. and Dropbox Inc. with new software to help employees work together and share files, looking to expand a $3 billion annual business and update a program now viewed as passe.

Microsoft is releasing a new SharePoint, introducing phone apps designed to fix the product’s lack of mobile integration, and updating the OneDrive file-sharing apps. The software maker also is offering free migrations for customers of its Office cloud software who want to switch to OneDrive from Box or Google Drive.

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