IBM (NYSE: IBM) is to acquire Nordcloud, a Helsinki, Finland-based provider of cloud implementation, application transformation and managed services.
The amount of the deal – subject to customary closing conditions and is expected to close in the first quarter of 2021 – was not disclosed.
The acquisition advances IBM’s cloud migration and transformation capabilities. Estimates based on Gartner and IDC 2024 projections for cloud managed services and professional services estimate the market for cloud professional services will exceed $200 billion by 2024.
Led by Fernando Herrera, Chairman and Founder and headquartered in Helsinki, Finland, with offices in 10 European countries, Nordcloud is a pan-European leader in cloud transformation services, which is triple certified in Amazon Web Services, Google Cloud Platform and Microsoft Azure.
Following the close of the transaction, Nordcloud will become an IBM Company.