In October of last year, IBM announced it had acquired Cleversafe — a move that stirred quite a brouhaha in the Chicago tech scene at the time. Although technically undisclosed then, rumors swirled that the acquisition carried with it a price tag of over a billion dollars.
Those rumors have since been confirmed. A recent Bloomberg report cited an IBM annual filing with the SEC, showing a sum total for a transaction that rang up at over $1.3 billion.
A high-profile acquisition of that caliber is a rare feat for Chicago-based tech businesses, with few businesses setting as high a precedent.
The news comes in addition to a recent IBM announcement of new object-based cloud storage services brought to life, thanks in large part to its acquisition of
“One of the biggest challenges enterprises face today is the massive growth of data, fueled by cloud, mobile, IoT, analytics, social media, cognitive and other technologies organizations eagerly employ to transform their business and engage customers,” said Cleversafe CEO John Morris in a statement about the service announcement. “By bringing Cleversafe technology to the cloud with these services, we will empower clients with the choice and flexibility needed to better balance storage cost, location, and compliance control requirements across their data sets and essential applications.”
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