IBM acquires HashiCorp in multi-billion dollar deal to boost cloud reach

IBM has confirmed it has entered into a definitive agreement with HashiCorp in which it will acquire the California-based software company for $35 per share, equating to a $6.4 billion deal.

In its announcement, IBM said the acquisition of HashiCorp is designed to bolster its position in the hybrid cloud and AI markets.

Rather than selling off its business to IBM and closing down, HashiCorp has confirmed that it will continue to build products and services, but operating as a division of IBM Software with the backing of a much bigger company.

IBM and HashiCorp

Speaking about the deal, IBM CEO Arvind Krishna said: “Enterprise clients are wrestling with an unprecedented expansion in infrastructure and applications across public and private clouds, as well as on-prem environments.”

Krishna added: “HashiCorp has a proven track record of enabling clients to manage the complexity of today's infrastructure and ...