IBM To Acquire Bluetab For Undisclosed Sum To Drive Data, Hybrid Cloud Consulting Services

International Business Machines Corp 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.