IBM to buy website hosting service SoftLayer
International Business Machines said on Tuesday it would acquire Web hosting company SoftLayer Technologies and create a new division for clients interested in so-called cloud services, a move to better compete with larger rivals in the space.
Executives with IBM and SoftLayer declined to comment on the terms of the deal on a call with reporters.
Reuters reported in March that IBM, among others, had been in talks to buy SoftLayer in a deal that could fetch more than $2 billion.
Dallas-based SoftLayer, which leases online storage space to companies, was founded in 2005 and has become what it says is the world's largest privately held website hosting service. The company provides its 25,000 customers, including AT&T Inc and Citrix Systems Inc, with cloud infrastructure.
Following a dreadful washout in the four-State Assembly polls, a humbled Congress accepted its defeat and called for a much needed introspection to rethink their strategy ahead of the 2014 Lok Sabha polls.
Date 17 hrs ago, Duration 2:49, Views 155