International Business Machines Corp. (IBM) To Acquire Softlayer In ...

(By Balachander) International Business Machines Corp. (NYSE: IBM) has agreed to acquire SoftLayer Technologies, Inc., a provider of cloud computing infrastructure. Financial terms of the deal were not disclosed.?

Dallas, Texas-based SoftLayer allows clients to buy enterprise-class cloud services on dedicated or shared servers, offering clients a choice of where to deploy their applications. SoftLayer is majority owned by Menlo Park, California-based private-equity firm GI Partners.?

IBM, which expects to reach $7 billion annually in cloud revenue by the end of 2015, said SoftLayer accelerates its ability to integrate public and private clouds for its clients.

The deal will help speed business adoption of public and private cloud services, IBM said.?

The information technology (IT) giant said it plans to expand SoftLayer cloud offerings to include OpenStack capabilities, consistent with its entire SmartCloud portfolio.?

The deal is expected to be completed in the third quarter of 2013.

IBM also announced the formation of a new cloud services division that will combine SoftLayer with IBM SmartCloud into a global platform.?

IBM shares edged 0.33 percent lower to trade at $208.27 on Tuesday.

Source: http://www.istockanalyst.com/finance/story/6448731/international-business-machines-corp-ibm-to-acquire-softlayer-in-cloud-computing-push

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