News Summary: IBM buying SoftLayer; no terms

IBM buying cloud computing company SoftLayer Technologies; terms not disclosed

Associated Press

THE DEAL: IBM is expanding its online software business with the purchase of cloud computing company SoftLayer Technologies Inc. Financial terms of the transaction were not disclosed.

IN THE CLOUDS: Privately held SoftLayer has 13 data centers in the U.S., Asia and Europe. IBM Corp., based in Armonk, N.Y., anticipates hitting $7 billion annually in cloud revenue by the end of 2015.

THE CLOSING: The acquisition is expected to be completed in the third quarter. Once the transaction closes, SoftLayer and IBM's existing SmartCloud unit will be combined in a Cloud Services division.

Sorry you didn't like this comment. Please provide a reason below.

Are you sure?
Rating failed. Try again.
Request failed. Try again.
We will promote constructive and witty comments to the top, so everyone sees them!
Sorry, we can’t load comments right now. Try again.

    Recommended for You