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IBM to acquire HashiCorp in $6.4 billion deal, reports another revenue miss
IBM said it would buy HashiCorp, a cloud software maker that's growing at a faster pace. IBM reported its third revenue miss in five quarters.
Dave McJannet, HashiCorp's CEO, will report to Rob Thomas, IBM's senior vice president in charge of software, if the deal goes through, a spokesperson said. IBM now sells Red Hat's version of the Linux operating system for use on multiple public clouds, making it a neutral entity. "We saw both a lengthening of backlog duration driven by large scale digital transformations and a reduced level of revenue realization in the quarter as clients tighten discretionary spending," Kavanaugh said.
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