IBM to Acquire Cloud Services Company SoftLayer


by Arik Hesseldahl (courtesy AllthingsD)


Computing giant IBM just made another move in its quest to become the biggest provider of cloud services. It said it will acquire SoftLayer, a privately held cloud services player based in Dallas.

Financial terms are not being disclosed. It has been owned by GI Partners, a private equity firm based in Palo Alto, Calif.

I took a meeting with SoftLayer CEO Lance Crosby in New York last year. At the time, he said he was in town to meet with Wall Street bankers in order to explore a possible initial public offering. And, indeed, the company had made some moves that indicated it was interested in an IPO: It hired a CFO from Leap Wireless last year.

Since then, talk about SoftLayer has focused not on a possible IPO, but on a buyout. This deal has been in the rumor mill for a few months. Reuters reported in…

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