IBM, EMC, And Others Are All Trying To Buy The Same $2 Billion Cloud-Computing Company
March 16, 2013
Grazed from Business Insider. Author: Julie Bort.
A bunch of big enterprise companies are lining up to buy a cloud computing company called SoftLayer Technologies, Reuters’ Nadia Damouni reports. IBM and EMC are reportedly in talks right now to buy the company in a deal that could be worth more than $2 billion. The sales process is being handled by Morgan Stanley and Credit Suisse.
Dallas, Texas-based SoftLayer is privately held, with the majority of shares owned by GI Partners. It has reportedly turned down other suitors before, like AT&T. SoftLayer is a cloud-computing and Web-hosting provider with about 25,000 customers, mostly small and mid-sized customers, making it the world’s largest privately held website hoster, Damouni reports…
EMC most likely wants this company to boost its brand new cloud-computing initiative. EMC owns a majority stake in VMware, a maker of cloud-computing software. Last week the two announced details for a new spinout called Pivotal, which offers a cloud-computing service that lets developers write and host applications without having to configure hardware…
Read more from the source @ http://www.businessinsider.com/ibm-emc-softlayer-acquisition-interest-2013-3