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IBM to spend $1.2 billion to expand cloud services

17
Jan
2014

(Reuters) – IBM Corp said it will invest more than $1.2 billion to build up to 15 new data centers across five continents to expand its cloud services and reach new clients and markets. IBM said the investment will bring up its data center count to 40 this year and double cloud capacity for SoftLayer, which leases online storage space to companies and was acquired by IBM last year for $2 billion. IBM said the global cloud market is estimated to grow to $200 billion by 2020. More companies are opting for cloud computing, which lets them rent computing power, storage and other services from data centers shared with other customers, which is typically cheaper and more flexible than maintaining their own.

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