- Soft Layer Acquired by IBM
On Monday July 8th 2013, Soft Layer, a long time client and portfolio company of Point Financial announced the completion of their companies acquisition by IBM.
SoftLayer joins IBM’s new cloud services division, which combines SoftLayer with IBM SmartCloud into a global platform. The new division, led by General Manager James Comfort, will provide a broad range of choices to both IBM and SoftLayer clients, ISVs, and channel and technology partners.
SoftLayer will enable IBM to deliver an industry first: marrying the security, privacy and reliability of private clouds with the economy and speed of a public cloud. SoftLayer offers a breakthrough capability that provides a cloud “on ramp” for born-on-the-web companies, government and the Fortune 500.
IBM cloud revenue grew by 80 percent in 2012. Already one of the world’s leading cloud providers, IBM expects to reach $7 billion annually in cloud revenue by the end of 2015.
Point Financial began it’s 6 year relationship with Soft Layer back in October of 2007. In the end, 7 successful transactions were completed to account for over $13,000,000 and mutually beneficial partnership for each company.
