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IBM will acquire HashiCorp for $6.4 billion, the company informed
IBM Hashicorp: IBM is trading shares of Hashicorp at a price of $35 per share. This price is about 42.6% higher than the company's closing price on Monday. HashiCorp shares saw a jump during Tuesday's trading session after the news of the deal with IBM.
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“IBM will acquire HashiCorp for $6.4 billion, the company informed”
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25 Apr 2024
IBM (International Business Machines), a major player in the IT industry, has agreed to pay $6.4 billion to acquire cloud software service provider HashiCorp. With this disclosure on Wednesday, the company stated that it is growing its line of cloud-based software products in order to get into the AI space.
IBM is trading HashiCorp shares at a price of $35 per share. This price is about 42.6% higher than the company's closing price on Monday. HashiCorp shares saw a jump during Tuesday's trading session after the news of the deal with IBM. On Tuesday, while HashiCorp's shares strengthened by four percent, IBM's shares fell by seven percent. This decline in IBM comes after the company's revenue in the first quarter was below expectations.
