The Finnish Nordcloud is taken over by IBM. It is one of the first acquisitions since the company announced its full focus on the cloud.
Nordcloud is headquartered in Helsinki, but with offices in Northern and Central Europe. The company focuses on cloud implementation, application development, managed services and training. It does not disclose how much IBM will pay for the acquisition.
It is not surprising that IBM is taking over a cloud player. In October, the company announced that it would soon split up so that it can entirely focus on hybrid cloud services.
Since the appointment of current CEO Arvind Krishna in April, the company has already acquired at least five cloud companies. Before his current role, Krishna was head of Red Hat, the company that IBM acquired at the end of 2018 for $ 34 billion.
Nordcloud was until now a company owned by private investors. IBM expects the acquisition to be completed in the first quarter of 2021.