IBM Doubles Down On Cloud Services With Cloudant Acquisition

TechCrunch

IBM is attempting to make up for its delayed push in cloud services by acquiring Cloudant, a YC alum and a cloud specialist in the area of NoSQL, database-as-a-service. This acquisition, the terms of which were not disclosed by the companies, comes a year after IBM acquired SoftLayer for around $2 billion, and also announced it will invest an additional $1 billion in enhancing its cloud portfolio over 2015.

Cloudant has received $15.1 million in funding to date from investors such as Samsung Ventures, Avlon Ventures and CIA’s In-Q-Tel.

After seven straight quarters of declining revenues, IBM has been scrambling to develop newer, multi-billion dollar revenue streams. The company’s another big bet — Watson — has been facing questions recently as well.

“Cloudant sits squarely at the nexus of these three key transformational areas and enables clients to rapidly deliver an entirely new level of innovative, engaging and data-rich…

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