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Verizon is selling its cloud and managed hosting business to IBM

What has gotten into Verizon? The company only recent announced that it was selling 29 of its data centers to Equinx and now comes another sale. Verizon has now announced that it is selling its Cloud and Managed Hosting Business to IBM. The financial details of the deal were not disclosed.

Announcing the sale, Verizon said:

Last week, Verizon agreed to sell its cloud and managed hosting service to IBM. Additionally, Verizon agreed to work with IBM on a number of strategic initiatives involving networking and cloud services. This is a unique cooperation between two tech leaders to support global organizations as they look to fully realize the benefits of their cloud computing investments.

The sale is expected to close by the year end. The company is notifying customers directly as well, although it noted that customer services won’t be affected directly.

The company further said that its aim was to become one of the world’s leading managed services providers, although it did not explain how selling themanaged hosting service to IBM was going to help it reach that goal. Interestingly, Verizon also shut down its public cloud service last year.

It does seem like that in face of tough competition from the likes of Amazon, Microsoft, Google and IBM itself, Verizon is giving up on the cloud. If giving up is too strong a word, the company seems to have come to the conclusion that its curent strategy is not working out and it needs to make some changes.

We will invest in technology that helps our customers continue their IT transformation journey. Our customers want to improve application performance while streamlining operations and securing information in the cloud. VES is now well positioned to provide those solutions through intelligent networking, managed IT services and business communications.

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Verizon is selling its cloud and managed hosting business to IBM

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