International Business Machines (NYSE: IBM) announced Monday that it will acquire the assets of Spanugo. Based in Santa Clara, Calfornia, Spanugo gives clients the capability to run workloads in the cloud, delivering both compliance and risk management while ensuring continuous cybersecurity.
This is IBM's first acquisition since CEO Arvind Krishna, the former head of IBM's cloud and cognitive services division, took the top job in April. IBM declined to disclose the terms of the agreement.
This deal should boost IBM's cloud capabilities. In a competitive market where the likes of Amazon and Microsoft have accumulated a significant market share, IBM continues to carve its niche in the cloud space. To stand out from competitors, IBM has targeted enterprise clients, especially those who not only deal with a burdensome regulatory environment but also want to benefit from cloud technology.
Source Fool.com