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IBM to buy HashiCorp in $6.4 billion deal to expand cloud software

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International Business Machines will buy HashiCorp in a deal valued at $6.4 billion, the company said on Wednesday, expanding its cloud-based software products to tap into an AI-powered boom in demand.

The International Business Machines Corporation logo is displayed, during the GSMA's 2023 Mobile World Congress in Barcelona, Spain March 1, 2023. REUTERS/Nacho Doce/File Photo

IBM, which separately reported first-quarter adjusted profit above Wall Street estimates, has doubled down on its cloud business as it becomes increasingly necessary to store and process the vast amounts of data employed in artificial intelligence programs. California-based HashiCorp allows customers to establish and manage their infrastructures on the cloud.

 

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