IBM announces the acquisition of HashiCorp, a company specializing in cloud management software development. IBM will acquire all shares of HashiCorp at a price of $35 per share, totaling $6.4 billion in cash, as previously rumored.
HashiCorp’s software products include Terraform, Boundary, Consul, Nomad, and Vault. Arvind Krishna, CEO of IBM, praised the acquisition, stating that HashiCorp’s software will enhance IBM’s services, allowing customers to manage infrastructure and applications on hybrid clouds in response to the increasing complexity of AI needs. HashiCorp’s products support both operational and security management.
Armon Dadgar, CTO of HashiCorp, mentioned the company’s past strategy of enabling customers to develop on the cloud, manage at scale efficiently, and meet the growing efficiency demand driven by the growth of hybrid and multicloud environments influenced by AI. Joining IBM aligns with HashiCorp’s goal of expanding and diversifying its product offerings.
HashiCorp will operate as a department under IBM Software while continuing to provide services under its current name.
TLDR: IBM acquires HashiCorp to enhance cloud management services and expand product offerings in response to evolving AI needs.
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