IBM has announced its plan to acquire HashiCorp, a key player in cloud infrastructure tools and creator of Terraform, for a sum of $6.4 billion, targeting a deal closure by the end of 2024. This strategic move is aimed at enhancing IBM’s capabilities in the hybrid cloud and AI sectors and is expected to strengthen its position in the $1.1 trillion total addressable market for cloud.
The acquisition is seen as a significant step to bolster IBM’s portfolio with HashiCorp’s infrastructure management and automation capabilities, promising to offer a comprehensive hybrid cloud platform that aligns with the AI era's demands. While the deal awaits the nod from HashiCorp shareholders and regulatory bodies, it has already received support from IBM and HashiCorp’s boards and HashiCorp’s major shareholders.
This acquisition is anticipated to be beneficial, increasing IBM's Adjusted EBITDA within the first year post-closure and positively impacting free cash flow by the second year.
Source: CRN
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