IBM to invest over $1.2B in cloud services

Jan 18, 2014, by admin

IBM plans to invest over $1.2 billion to expand its cloud services operations. The computing services company said Friday that it will build 15 data centers around the world this year to add to the 12 it already operates and the 13 it recently acquired through its $2 billion purchase of cloud computing company SoftLayer last year.

IBM said it plans to have data centers in all major geographic regions and financial centers with plans to expand in the Middle East and Africa next year. IBM said the new investments will give its business clients the ability to place and control their data globally.

Software stored and accessed on clouds is increasingly popular with businesses because it lets workers in from any Internet-connected device. IBM Corp. started its cloud business in 2007 and has spent billions on cloud-related acquisitions in recent years. IBM shares rose 33 cents to $189.09 in premarket trading about a half hour before the market opening