Seeking Alpha Lists 7Summits Among Key IBM Acquisitions
7Summits In the News
Seeking Alpha, a crowd-sourced content service for financial markets, recently posted a blog reviewing IBM’s Q1 results for 2021 and looking ahead to the value IBM provides moving forward. The author discussed IBM’s primary strengths as its hybrid and AI approach, and went into depth about the recent acquisitions and other moves the company has taken to continue focusing on those promising areas.
Among the significant deals that align with this strategy was IBM’s acquisition of 7Summits. The Seeking Alpha article states that 7Summits will help “drive digital transformation for Salesforce clients” as a part of IBM, and is one indicator of the direction IBM is taking with its services. The rest of the blog analyzes IBM’s execution on its strategy and why the company’s Q1 earnings report and moves indicate the organization being on the right track.
An excerpt containing a high-level overview and the sections of the article discussing 7Summits can be read below. The full blog can be accessed at Seeking Alpha’s website.
IBM: A Buy for the Bold
IBM (NYSE:IBM) took analysts by surprise when it announced its first quarter results. Not only did the company beat Wall Street estimates but its figures also point in the same direction as big blue’s strategy, which hasn’t always been the case. In other words, the walk finally matches the talk and it’s bringing in money. Moreover, Hybrid Cloud and AI, where IBM is paving a path, is where enterprises want to go, so IBM can offer them something that they are willing to buy and pay good money for. And with Red Hat leading its portfolio and growing, IBM is finally selling something it can deliver and customers can be satisfied with. Unlike IBM Watson which was big blue’s big bet, it never lived up to its hype. Add to that, that IBM’s Global Business Services grew and that it will likely grow more as IBM plans to put some emphasis on professional services, having recently purchased two consulting firms. So let it be said, IBM is headed in the direction of customer needs and where it has something of value to offer.
IBM recently made acquisitions that fall in line with its strategy:
- June 2020: WDG Automation for robotic process automation (RPA) software expertise.
- June 2020: Spanugo for cloud cybersecurity posture management solutions.
- November 2020: Application performance monitoring (APM) software company Instana.
- November 2020: SAP software developer & IT services partner TruQua Enterprise.
- January 11, 2021 7Summits acquisition drives digital transformations for Salesforce clients.
- January 2021: Red Hat, owned of IBM, acquired StackRox, a provider of container and Kubernetes-native security software.
- April 2021: Turbonomic, an application resource management (ARM) and network performance management (NPM) software provider.
- April 2021: myInvenio, a business automation software provider that specializes in process mining as part of the hyperautomation trend.
Explore Other News About 7Summits, an IBM Company
Check out CEO Paul Stillmank’s comments on becoming 7Summits, an IBM Company in his open letter to friends, colleagues and clients of 7Summits.