IBM expands in the cloud

Article Excerpt

IBM $202.74 (New York symbol IBM; Shares outstanding: 1.1 billion; Market cap: $228.6 billion; TSINetwork Rating: Above Average; Dividend yield: 1.9%) is paying an undisclosed sum for SoftLayer Technologies, which sells online data storage space and related services to over 21,000 businesses. SoftLayer has 13 data centres in the U.S., Asia and Europe. Demand for cloud-computing, which mainly involves storing data and using software on remote servers, is growing strongly. That’s because it gives cost-conscious companies access to better software and services without the high cost of setting up their own servers. SoftLayer’s technology will enhance IBM’s expertise in this expanding market. IBM is a buy. buy…