IBM to Acquire Cloud Services Company SoftLayer

TECH in AMERICA (TiA)

by Arik Hesseldahl (courtesy AllthingsD)

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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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