IBM to buy HashiCorp in $6.4 billion deal to expand cloud software

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 65 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 50%
  • Publisher: 63%

Hashicorp News

Stephen Elliot,International Data Corp,Software Products

International Business Machines will buy HashiCorp in a deal valued at $6.4 billion, the company said on Wednesday, expanding its cloud-based software...

- International Business Machines will buy HashiCorp in a deal valued at $6.4 billion, the company said on Wednesday, expanding its cloud-based software products to tap into an AI-powered boom in demand.

IBM, which separately reported first-quarter adjusted profit above Wall Street estimates, has doubled down on its cloud business as it becomes increasingly necessary to store and process the vast amounts of data employed in artificial intelligence programs.The Big Blue's "AI book of business" crossed $1 billion in the first quarter, growing sequentially. The book comprises actual sales and bookings from various offerings.

"The deal provides a cloud infrastructure automation growth engine for IBM," Stephen Elliot, a vice president at market research firm International Data Corp, said on Tuesday, following reports of the talks.Software revenue grew 5.5% in the first quarter while the consulting segment was flat. Total revenue of $14.46 billion fell just short of LSEG estimates of $14.55 billion.

The company reported adjusted earnings of $1.68 per share for the quarter ended March, compared to analysts' average estimate of $1.60.Here are four stocks that you can buy and hold for decades in your TFSA. The post TFSA: 4 Canadian Stocks to Buy and Hold Forever appeared first on The Motley Fool Canada.These three Canadian stocks are highly reliable and have tremendous long-term growth potential, making them some of the best to buy now.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in TECHNOLOGY

Technology Technology Latest News, Technology Technology Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IBM nears acquisition of cloud provider HashiCorp: WSJAccording to the Wall Street Journal, IBM (IBM) is reportedly in advanced stages of negotiations to acquire HashiCorp (HCP), a prominent cloud software ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

IBM Is in Advanced Talks to Acquire Software Provider HashiCorpInternational Business Machines Corp. is in advanced talks to acquire software company HashiCorp Inc., according to people with knowledge of the matter.
Source: BNNBloomberg - 🏆 83. / 50 Read more »