Leading multi-cloud infrastructure automation companies HashiCorp Inc. and IBM announced their definitive agreement yesterday.
IBM stated in a release seen by Newsng that it plans to acquire HashiCorp for $35 per share in cash as part of a deal that has a $6.4 billion enterprise value, net of cash.
For hybrid and multi-cloud systems, HashiCorp Technologies claims it provides enterprises with a variety of IaaS automation.
Using Infrastructure as a Service (IaaS) allows enterprises to manage infrastructure lifecycle and security lifecycle management efficiently. About genuine distributed, hybrid cloud, and AI-based processing.
Arvind Krishna, IBM chairman and chief executive officer, said, “Enterprise clients are wrestling with an unprecedented expansion in infrastructure and applications across public and private clouds, as well as on-prem environments.
“The global excitement surrounding generative AI has exacerbated these challenges and CIOs and developers are up against dramatic complexity in their tech strategies.”
Reacting to the acquisition HashiCorp co-founder, Armon Dadgar said:
“Our strategy at its core is about enabling companies to innovate in the cloud while providing a consistent approach to managing cloud at scale.
“The need for effective management and automation is critical with the rise of multi-cloud and hybrid cloud, which is being accelerated by today’s AI revolution.”
According to information obtained by News.ng, IBM has since gone on to assist IT departments in managing intricate hybrid systems, leveraging its financial power to purchase a portfolio of well-known businesses.
We earlier reported that TabaPay, Inc., said that it has reached a deal to buy Synapse Financial Technologies, Inc.’s assets and affiliates.
