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IBM Acquires Canadian Company Platform Computing for Undisclosed Amount

IBM is planning to use Canadian technology to make huge amounts of money by keeping data, generated by businesses, under control.

IBM, a 100-year old technology company, purchased Canadian company Platform Computing Inc. for an amount which has not yet been disclosed.

The Canadian company, as part of a product platform, distributes computing management software which IBM considers “unprecedented” in the fast emerging high-performance computing sector.

Brian Conners, Vice President of high performance computing for IBM, said during a conference call, “With the price and cost in compute nodes coming down, capabilities that were never thought feasible or capable of being utilised by small and mid-range firms are now upon us,” as per reports (opens in new tab) published in The Ottawa Citizen.

Even though the amount for the deal has not been declared, it has been speculated that IBM must have paid a hefty price to acquire the Canadian cloud computing company.

With 15 offices worldwide, Platform Computing has more than 500 employees. Worldwide there are more than 2,500 companies who use the Platform software to manage their growing data deluge which includes Bombardier Inc. and the Royal Bank of Canada.