IBM has agreed to buy Finland-based cloud migration and services specialist Nordcloud for an undisclosed sum: adding the Magic Quadrant-featured company to its roster of companies as it embarks on an aggressive attempt to boost its cloud footprint globally.
The acquisition is IBM's second in the past week, coming six days after Big Blue also snapped up Montreal-based fintech Expertus Technologies Inc., which provides "payments-as-a-service" to over 1,000 customers including banks, credit unions, regulatory agencies and corporates globally -- processing some $50 billion daily on its payments platform
Nordcloud, which which features in Gartner's "Magic Quadrant for Public Cloud Infrastructure Professional and Managed Services, Worldwide" as a high performing "niche player", is a certified partner of AWS, Microsoft Azure and Google Cloud Platform and also has a strong financial services sector footprint: a major play for IBM amid its hybrid cloud push.
It raised €20 million -- including in public sector backing -- in a Series A round in early 2019, when it touted a revenue run-rate of €60m.
Nordcloud has supported cloud migrations and new cloud-native application delivery for companies ranging from Porsche Informatik (the in-house IT system development arm of the automotive marque), New York-based regulatory reporting and risk management giant AxiomSL and open source data integration company Talend, among 500 others.
John Granger, Senior VP, Cloud Application Innovation and Chief Operating Officer, IBM Global Business Services said Nordcloud "adds the kind of deep expertise that will drive our clients’ digital transformations as well as support the further adoption of IBM's hybrid cloud platform. Nordcloud’s cloud-native tools, methodologies and talent send a strong signal that IBM is committed to deliver our clients’ successful journey to cloud."
Fernando Herrera, Nordcloud's founder, added “I am very excited to embrace IBM’s open innovation mindset and help grow its global footprint.”