The report that IBM submitted to SEC on Tuesday indicated that its acquisition deal of Cleversafe was over $1.3 billion. Cleversafe’s data storage software can be used in public and private cloud computing system.
IBM announced to acquired Cleversafe in last October but it did not reveal the specific details. According to its latest report, Cleversafe acquisition was the biggest merger deal IBM made last year. IBM spent over 1.3 billion to acquire it, reputation is included into the cost.
With the decline revenue of IBM existing products and services, its CEO Ginni Rometty wishes to make more profit by promoting cloud computing business. It focuses on building internet services to connect the private or exclusive servers with the public data center. IBM is eager to split off from Amazon or other cloud server providers.
Most of cloud computing revenue of 2015 were from basic services, including software, hardware and private cloud services. The IBM report showed that the revenue of cloud computing business reached $10.2 billion last year, including $5.6 billion basic service revenue.
Cleversafe was established in 2004 for launching the data storage system that used for enterprises and public cloud servers. Pitchbook predicted that the market value of Cleversafe would be over $ 200 million based on the financing value of 2013.
The report indicated that it spent $3.6 billion to complete 14 acquisitions in 2015. The second large acquistion went to Merge Healthcare. It might spend over $1 billion to acquire.