IBM has revealed it is set to acquire Turbonomic in the latest of a series of cloud computing related takeovers.
Turbonomic adds to IBM’s arsenal of Artificial Intelligence (AI)-powered hybrid cloud offerings and is the latest in big blue’s bid to provide enterprises AI-based services to manage their networks and workloads.
The acquisition of Turbonic, which provides tools for application resource and network performance management, is part of IBMs attempts to apply AI to enhance IT operations (AIOps).
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While IBM did not disclose the financial terms of the deal, based on Turbonomic’s recent valuation based on its last funding round, it is estimated to have cost between $1.5 billion and $2 billion, according to reports.
Push for hybrid cloud
IBM argues the acquisition puts it in a position to offer full stack application observability and management in the increasingly complex hybrid cloud environments in today’s enterprises.
This will help assure performance for its customers while minimizing costs thanks primarily to the use of AI to optimize resources, such as containers, virtual machines, servers, storage, networks, and databases.
"The Turbonomic acquisition is yet another example of our commitment to making the most impactful investments to advance this strategy and ensure customers find the most innovative ways to fuel their digital transformations," said Rob Thomas, Senior Vice President, IBM Cloud and Data Platform.
Notably, the acquisition is IBM’s eleventh since the arrival of Arvind Krishna as the new CEO last year. Krishna has been aggressively pushing the company to beef up its arsenal of hybrid cloud and AI-powered solutions.
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Via TechCrunch
