News Column

IBM Nabs SoftLayer in $2 Billion Deal

June 4, 2013
ibm buys softlayer

IBM has bought cloud computing company SoftLayer in a $2 billion deal that strengthens the firm's offerings in the sector, the companies announced Tuesday.

SoftLayer serves some 21,000 customers in the US, Europe and Asia and is the largest privately-held cloud computing firm in the world, according to IBM.

The deal underscores the rapidly growing importance of cloud computing in which data is secured on remote servers accessible via the internet, saving companies the time, expense and complexity.

The deal is expected to close by the third quarter of the year and will help IBM generate $7 billion a year from its cloud services by 2015, the company said.

For more stories covering the world of technology, please see HispanicBusiness' Tech Channel

Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters