IBM To Acquire Hybrid Cloud Consulting Firm BoxBoat Technologies For Undisclosed Sum - IBM (NYSE:IBM)

International Business Machines Corp IBM announced plans to acquire a DevOps consultancy and enterprise Kubernetes certified service provider, BoxBoat Technologies.
The financial terms of the transaction remain undisclosed.
BoxBoat will extend IBM's container strategy and implementation services portfolio to advance IBM's hybrid cloud strategy and accelerate the global adoption of Red Hat OpenShift.
BoxBoat helps clients establish containers and Kubernetes as core enablers for cloud solutions.
Its track record of delivering complex cloud consulting projects includes advising many Fortune 100 and government clients on industry best practices, modernizing existing DevOps solutions, and containerizing mission-critical workloads.
BoxBoat builds on IBM's ongoing investment in hybrid cloud services and driving growth within the $200 billion cloud professional services market.
IBM held $11.3 billion in cash and equivalents as of March 31, 2021.
Price action: IBM shares traded higher by 0.67% at $140.76 on the last check Thursday.