IBM to Buy European Cloud Startup Nordcloud
Technology
Asharq Al-Awsat
International Business Machines will acquire European startup Nordcloud, the latest in a series of acquisitions for the 109-year old firm preparing a mega spin-off to focus on cloud computing. The world’s first big computing firm has set its sights on the so-called hybrid cloud, where it sees a $1 trillion market opportunity as more companies use a combination of their own datacenters and leased computing resources to manage and process data. IBM did not disclose on Monday how much it paid for the Finland-based firm. Since taking office in April, Chief Executive Officer Arvind Krishna has acquired at least five startups from the hybrid cloud space. Krishna was the principal architect behind IBM’s $34 billion Red Hat deal last year. IBM President Jim Whitehurst, in an interview with Reuters on Monday, said the company was unlikely to do a major acquisition in the cloud sector in near future. “I don’t see some big $10 billion acquisition that we need to do,” Whitehurst said.
from Asharq AL-awsat https://english.aawsat.com/home/article/2696021/ibm-buy-european-cloud-startup-nordcloud
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