IBM buys JCI and Zimpress to create a $40bn global cloud business

June 17, 2021 0 Comments

By JCI Staff IBM has joined the ranks of technology giants including Amazon and Google to form a new cloud business, the JCI unit that offers IT services including IT support, analytics and data center management.JCI, which has grown from a small startup in 2007, has been gaining traction in the global IT market with its IT services and data centers.

The company’s latest acquisitions include a $10bn acquisition of ZimPress, an online marketplace for software development, analytics, testing and production that has been valued at more than $30bn.

Jicis global business will focus on IT services, and its products will be available for enterprise customers and developers, according to a statement.

The new business will be called JCI Data Center and will be the company’s first global cloud-based business, according a statement from the company.”JCI’s core business is data center solutions, with the goal of enabling IT systems to scale with new applications, such as virtualization, and supporting IT infrastructure that is rapidly evolving,” JCI Chief Executive Andrew Ritter said in the statement.

“We look forward to working with IBM and Zimbpress on expanding our existing operations in this business to bring our capabilities and value to more customers.”JCI will create a new data center business with a base in the United States, with operations based in Kansas City, Kansas.

It will also build a data center in New York, with an annual sales volume of $20bn, Ritter added.JICI’s new business is expected to have a revenue of more than half a billion dollars a year, with revenue from the $40 billion deal expected to exceed $50 billion, according Ritter.IBM is buying a significant chunk of JCI that makes the company the world’s largest provider of IT services.

The deal is expected a boon for IBM as it seeks to expand its business in the cloud, which is increasingly critical to the company and its customers.

The move follows a $1.1bn acquisition by Amazon of its cloud business in December 2015.

That deal, which valued the business at more in excess of $50bn, included a cloud-related technology, including a cloud computing service.

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