IBM acquires software provider Turbonomic for over $1.5 billion

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By Krystal Hu
NEW YORK (Reuters) -IBM said on Thursday it has agreed to acquire Turbonomic, a provider of software that helps companies monitor the performance of their business applications, the latest in a series of cloud computing acquisitions by the tech giant.
The deal, which confirmed an earlier Reuters report, would be IBM's largest since it acquired Red Hat for $34 billion in 2019. It values Turbonomic at between $1.5 billion and $2 billion, people familiar with the matter said on condition of anonymity.
IBM shares were up slightly in early afternoon trading.
The acquisition is IBM's 11th since Arvind Krishna became chief executive last year. Krishna has been leading a major transformation, doubling down on the hybrid cloud and artificial intelligence areas.
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