Cloud Key licensing was affected last night and early this morning by a partial Azure outage.
The effects of that outage are still being felt, but conditions are slowly returning to normal. As of now, the licensing servers are functioning, though with the issue and the abnormally high load, they are functioning more slowly than normal. We expect that service will return to normal later this morning.
We understand that this service degradation has a major effect on our customers and we are working to resolve all issues as soon as possible. We will issue more updates as we have more information.