IBM Puts Up $2B For Cloud-Computing Firm SoftLayer

Law360, New York (June 4, 2013, 1:39 PM EDT) -- IBM Corp. will swallow up private equity-backed SoftLayer Technologies Inc. in a deal reportedly worth $2 billion as part of a wide-reaching plan to cash in on growing demand for cloud-based solutions, especially among small and midsize businesses, the companies said Tuesday.

The firms did not disclose the price attached to the transaction, but multiple news outlets pegged the deal’s value around $2 billion, making it the heftiest for the company since Virginia Rometty stepped in as CEO in January 2012.

The sale lifts ownership from...
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