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IBM to buy European cloud startup Nordcloud, sees $1 trn market opportunity

Since taking office in April, Chief Executive Officer Arvind Krishna has acquired at least five startups from the hybrid cloud space.

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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
Topics : IBM Startup

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First Published: Dec 21 2020 | 8:30 PM IST

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