- International Business Machines Corp (NYSE:IBM) inked an agreement to acquire Madrid-based Bluetab Solutions Group, S.L. for undisclosed financial terms.
- IBM expects Bluetab to extend its portfolio of data and hybrid cloud consulting services.
- Bluetab will become a strategic part of IBM’s data services consulting practice to advance its hybrid cloud and A.I. strategy further.
- Bluetab has long-standing relationships with brands in the banking, telecommunications, and energy and utility industries across Spain, Mexico, Peru, and Colombia.
- Bluetab enables enterprises to drive more value from their data by transforming their on-premise data and analytics estates to hybrid multi-cloud data platforms using a combination of public cloud providers and technologies, including Red Hat OpenShift.
- The transaction is likely to close in Q3 of 2021.
- IBM held $11.3 billion in cash and equivalents as of Mar. 31, 2021.
- Price action: IBM shares closed lower by 0.33% at $139.82 on Wednesday.
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