How IBM Continues to Rise in the Cloud as It Seeks to Boost Adoption

Grazed from TheStreet. Author: Chris Ciaccia.

As IBM pushes its clients toward cloud computing, the software and services provider announced new investments Monday in its hybrid cloud offerings to boost revenue in a fast-expanding part of its business. "Today, we are launching a new class of cloud innovations that extend open standards capabilities for the enterprise," said IBM SVP Robert LeBlanc in a statement. "Data location across an ever growing number of clouds is an increasing concern for customers and we are unveiling new portability and developer services to make this easier to manage."

By doing so, IBM’s customers will be able to move their software, platforms and information-technology systems to the hybrid cloud, which allows clients to manage some resources internally and others on IBM’s platform. The dual cloud platform is intended to make it easier to adopt and update a client’s IT needs…

IBM, which generated $7 billion in cloud revenue in 2014, a 60% gain from a year earlier, is pushing its hybrid cloud model in order to boost competitiveness. In the space, IBM competes with Microsoft (MSFT) , Google (GOOG) , Amazon (AMZN) and others. The hybrid cloud is a fast-growing part of the cloud market, with IBM at the head of the space. It owned a 13% share of the market, according to Synergy Research Group…

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