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March 29, 2023
Finance Technologies

IBM returns to M&A market with cloud acquisition

IBM has finalised a deal to acquire Spanugo, a Santa Clara-based cloud cybersecurity start-up, in what marks the technology giant’s first acquisition since its $34 billion buyout of Red Hat in October 2018. The integration will essentially form “a security control center” The firm, founded in April 2017, has just one seed round under its belt from July 2018. But despite its small size, IBM’s cloud SVP Howard Boville says the acquisition is a “major step in advancing IBM’s differentiated capabilities in security and compliance”. Spanugo’s software will be integrated into what IBM calls the “first financial services public cloud”,…
IBM returns to M&A market with cloud acquisition

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