The company for several years has been focused on becoming a major player in the cloud services industry, acquiring Linux maker Red Hat and selling some legacy businesses. Revenue from the cloud business, previously headed by IBM’s new boss Arvind Krishna, rose 19% to $5.4 billion in the first quarter. Krishna took over the chief executive officer role from Ginni Rometty in April, while appointing former Bank of America Corp’s top technology executive Howard Boville as the new head of IBM’s cloud business. …read more
Source:: Yahoo Finance
