International Business Machines Corporation develops enterprise technology across software, consulting, hardware, hybrid cloud, artificial intelligence and quantum computing. News from IBM centers on AI platforms and services, including watsonx, IBM Enterprise Advantage, IBM Consulting Advantage, IBM Sovereign Core, watsonx Orchestrate and Red Hat technologies for hybrid and regulated environments.
Recurring updates also cover IBM Consulting client work, industry and cloud collaborations, research milestones in quantum-centric supercomputing, AI-enabled application experiences, and IBM Institute for Business Value studies on enterprise adoption and governance of AI.
IBM has acquired 7Summits, a leading Salesforce consultancy, enhancing its Salesforce services and experience design capabilities. This strategic move aligns with IBM's hybrid cloud and AI initiatives to facilitate digital transformation across industries. 7Summits will integrate into IBM Global Business Services, expanding its consulting and application development capabilities. The collaboration aims to address rising client demand for innovative solutions, leveraging data and AI. Financial details of the acquisition were not disclosed.
Cyware, a leader in Virtual Cyber Fusion Center technology, announced a follow-on investment in its Series A funding round due to overwhelming demand for its platform. The funding round saw participation from prominent cybersecurity leaders like Greg Clark and Tom Noonan. Cyware aims to enhance its cybersecurity operations by leveraging advanced technologies, including security orchestration and automation, to support teams in optimizing security processes. This follows recent executive appointments to strengthen its leadership and growth strategy.
IBM has appointed Martin Schroeter as the new CEO of its Managed Infrastructure Services business, referred to as NewCo, effective January 15, 2021. The spin-off is expected to finalize by the end of 2021. Schroeter previously held key roles at IBM, including Senior Vice President of Global Markets and Chief Financial Officer. He brings extensive industry knowledge and leadership experience, which positions him well to lead NewCo in modernizing IT infrastructure globally. IBM's Chairman emphasized Schroeter's strategic vision as essential for the company's future success.
IBM (NYSE: IBM) announced a strategic collaboration with Avertra to accelerate digital transformation in the energy and utilities sector. Avertra will utilize IBM Cloud, leveraging IBM's $1B investment in its ecosystem through the Cloud Engagement Fund. Their MiCustomer Digital Experience platform will enhance customer engagement from meter reading to billing, optimizing operational efficiency and reducing costs. This initiative reflects the growing trend of cloud adoption in the energy sector to better meet digitally-savvy consumer demands.
On January 5, 2021, IBM announced a collaboration with Harris-Stowe State University, committing over $2 million to enhance educational resources in artificial intelligence and open hybrid cloud technology. This initiative aims to train students and faculty in emerging technologies, addressing the demand for skills in areas like AI, data science, and cybersecurity. The partnership supports HBCU students' career readiness, reflecting IBM's ongoing investment in diverse talent and commitment to social justice and economic opportunity.
IBM has appointed Gary D. Cohn as Vice Chairman, joining the Executive Leadership Team. Cohn's extensive experience in business and government is expected to enhance IBM's initiatives in business development and client services. He aims to support the company's hybrid cloud and AI strategy, a crucial area for growth. Previously, Cohn served as Assistant to the President for Economic Policy and was President of Goldman Sachs. His leadership is anticipated to bring valuable insights to IBM's operations and client engagement.
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IBM has been awarded a blanket purchase agreement (BPA) by the U.S. Department of Agriculture (USDA) worth approximately $620M over five years to provide software development services. This BPA, secured among over 30 competing vendors, aims to support USDA's digital modernization efforts for conservation programs managed by the Natural Resources Conservation Service and the Farm Services Agency. IBM's experience in application modernization will help enhance critical conservation efforts, benefiting farmers and ranchers in managing natural resources.
On December 21, 2020, IBM announced a Phase 1 Other Transactions Agreement under the RAMP Advanced Commercial Capabilities Project, aimed at enhancing U.S. microelectronics technology. This initiative, administered by the Naval Surface Warfare Center and funded by the Department of Defense, focuses on developing secure microelectronics, including Application Specific Integrated Circuits and Systems on a Chip. IBM's collaboration aims to establish a self-sustainable supply chain that meets DoD requirements while improving performance and reliability.
IBM announced an agreement to acquire Nordcloud, a leading European cloud services provider, boosting its cloud migration and transformation capabilities. With headquarters in Helsinki, Nordcloud is recognized for its expertise in public cloud services and is triple certified by Amazon Web Services, Google Cloud Platform, and Microsoft Azure. This strategic acquisition aims to enhance IBM's hybrid cloud platform by integrating Nordcloud's tools and methodologies. The transaction is expected to close in Q1 2021, with financial details undisclosed.