IBM Eyes More Cloud Acquisitions to Find a Path to Growth
Future deals will focus on 'as a service' companies, IBM's CFO says
IBM will favor buyouts that strengthen its cloud services, the company's CFO said Tuesday, as it looks for ways to expand its business after 11 straight quarters of declining revenue.
"Most of our acquisitions will probably be on an 'as a service' basis, as opposed to an on-premise model," CFO Martin Schroeter said during IBM's quarterly earnings call, in response to a question.
"That's the nature of the market and where we have a lot of opportunity, because we don't play in some of those areas today," he said.
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