IBM (NYSE: IBM) and Oracle (NYSE: ORCL) both struggled to pivot their legacy businesses toward the higher-growth cloud market over the past few years.
IBM was weighed down by its legacy business software, hardware, and IT services segments. Former CEO Ginni Rometty divested Big Blue's slower-growth businesses and expanded its cloud ecosystem by acquiring big players like SoftLayer and Red Hat -- but its growth remained sluggish.
Oracle transformed its on-premise database software into cloud-based services and expanded its ecosystem by buying NetSuite in 2016, but its growth remained anemic. Oracle stopped disclosing the exact growth rates of its cloud services two years ago, and co-CEO Mark Hurd -- who led that cloud transformation -- passed away last year.
Source Fool.com