IBM nearing deal for HashiCorp
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Hashicorp's stock surged 24 percent, giving it a market value of US$6.1 billion ($9.4 billion), after the Wall Street Journal first reported the talks.
The boom in generative artificial intelligence has increased the attractiveness of cloud software as it helps process vast amounts of data.
A deal for HashiCorp could be finalised in the coming days, but it is still possible that the talks may not result in a transaction, according to the WSJ report.
IBM completed nine acquisitions in 2023, including a deal for technology spend-management platform Apptio from Vista Equity Partners for US$4.6 billion.
The company's 2018 acquisition of software company Red Hat for US$34 billion, including debt, remains its biggest buyout to date.
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