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Only a few days after announcing that it was selling 29 of its data centers to Equinix<\/a>, Verizon today announced<\/a> that it is selling its cloud and managed hosting business to IBM. The acquisition is expected to close later this year.<\/p>\n This move pretty much puts an end to Verizon\u2019s loftier ambitions in the cloud \u2014 an area it started pursuing in earnest back in 2011 when it acquired bought Terremark<\/a>. With Terremark, it acquired\u00a0both some of the most valuable data centers it then sold to Equinix earlier this week as well as the foundation for its private cloud businesses.<\/p>\n Disclosure: Verizon is the parent company of AOL, which owns TechCrunch.<\/em><\/p>\n As George Fischer, the SVP and Group President of Verizon Enterprise Solutions, notes in today\u2019s announcement, IBM and Verizon will work together on a number of unspecified \u201cstrategic initiatives\u201d that will involve networking and cloud services. \u201cThis agreement presents a great opportunity for Verizon Enterprise Solutions (VES) and our customers,\u201d Fischer writes. \u201cIt is the latest development in an ongoing IT strategy aimed at allowing us to focus on helping our customers securely and reliably connect to their cloud resources and utilize cloud-enabled applications.\u201d<\/p>\n It\u2019s worth noting that Verizon also shut down its public cloud service last year. Verizon, it seems, never reached the scale to compete with the likes of Amazon, Google and Microsoft in the public cloud and it also wasn\u2019t quite able to scale its private cloud business to the point where it was worth pursuing this strategy in the long run, especially given the strong competition there, too.<\/p>\n IBM\u2019s cloud business, on the other hand, is growing quickly (unlike other parts of its business). With this move, it\u2019s bolstering its position in the private cloud and managed hosting space for Verizon\u2019s enterprise customers. Verizon says its current customers won\u2019t see any immediate impact from this move, though it\u2019s probably a fair guess that somebody from IBM will be reaching out to them soon.<\/p>\n Featured Image: joel-t<\/a>\/Getty Images<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2017\/05\/gettyimages-458119325.jpg?w=680\")
Only a few days after announcing that it was selling 29 of its data centers to Equinix, Verizon today announced that it is selling its cloud and managed hosting business to IBM. The acquisition is expected to close later this year. This move pretty much puts an end to Verizon’s loftier ambitions in the cloud — an area it started pursuing in earnest back in 2011 when it acquired… Read More<\/a><\/p>\n\n<\/img><\/a>
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