IBM is set to acquire HashiCorp in a $6.4 billion deal that will enable the company to expand its cloud-based products and meet the growing demand for cloud services. The acquisition aligns with IBM's strategic focus on AI and cloud technologies. IBM will pay $35 per share for HashiCorp, representing a 42.6% premium to Monday's closing price. The deal is expected to be finalized by the end of 2024 and will be funded using cash on hand. HashiCorp provides customers with the ability to establish and manage their infrastructures on the cloud. IBM's software business experienced a 5.5% growth in Q1, and its 'AI book of business' generated over $1 billion in revenue. The acquisition is seen as a strategic move by IBM to complement its existing portfolio.
Meanwhile, IFS has entered into a definitive agreement to buy Copperleaf Technologies Inc., a provider of AI-powered enterprise Asset Investment Planning and Management (AIPM) software. The combination of Copperleaf and IFS is intended to provide users with access to advanced industrial AI-powered software to manage business assets throughout the 'asset lifecycle' and across the software application development lifecycle. Over two trillion dollars of physical and digital assets around the world are managed using Copperleaf software. Completion of the transaction is subject to customary conditions, including court approval, approval of the Copperleaf shareholders, and regulatory approval. [2e4f4ebd] [aa2f7417]