With the 2019 acquisition of open-source powerhouse Red Hat under its belt and a new cloud-savvy CEO at the helm, IBM is looking to reverse a decade of declining revenue and sagging stock prices with a bold strategy focused on hybrid cloud.
CEO Arvind Krishna, who formerly led IBM's cloud and cognitive computing division and engineered the $34 billion Red Hat acquisition, made IBM's intentions clear in a LinkedIn post to employees in his first day on the job: "Hybrid cloud and AI are the two dominant forces driving change for our clients and must have the maniacal focus of the entire company. IBM has already built enduring platforms in mainframe, services, and middleware. I believe now is the time to build a fourth platform in hybrid cloud."
Thanks to Neal Weinberg (see source)