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Headline : IBM moves deeper into hybrid cloud management with $6.4B HashiCorp acquisition

Read more from the original article on here at techcrunch.com.





Tags : #ibm #moves #deeper #hybrid #cloud #management #64b #hashicorp #acquisition


No. of Paragraph 51

IBM wisely gravitated away from trying to be a pure cloud infrastructure vendor years ago, recognizing that it could never compete with the big three: Amazon, Microsoft and Google. It has since moved on to helping IT departments manage complex hybrid environments, using its financial clout to acquire a portfolio of high-profile companies.

It began with the $34 billion Red Hat acquisition in 2018, continued with the Apptio acquisition last year and it kept it going on Wednesday when the company announced that it would be acquiring cloud management vendor HashiCorp for $6.4 billion.

With HashiCorp, Big Blue gets a set of cloud lifecycle management and security tools, and a company that is growing considerably faster than any of IBM’s other businesses — although the revenue is small by IBM standards: $155 million last quarter, up 15% over the prior year. That still makes it a healthy and growing business for IBM to add to its growing stable of hybrid cloud tools.

IBM CEO Arvind Krishna certainly sees the value of this piece to his company’s hybrid strategy, and he even threw in an AI reference for good measure. “HashiCorp has a proven track record of enabling clients to manage the complexity of today’s infrastructure and application sprawl. Combining IBM’s portfolio and expertise with HashiCorp’s capabilities and talent will create a comprehensive hybrid cloud platform designed for the AI era,” he said in a statement.

Read more from the original article on here at techcrunch.com.


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