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MarketScreener Homepage  >  Equities  >  Nyse  >  International Business Machines Corporation    IBM

INTERNATIONAL BUSINESS MACHINES CORPORAT

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IBM : and Persistent Systems to Accelerate IBM : Cloud Pak Deployment and Core IT Modernization for Enterprises

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06/03/2020 | 08:01am EDT

ARMONK, N.Y., June 3, 2020 /PRNewswire/ -- IBM (NYSE: IBM) and Persistent Systems (BSE & NSE: PERSISTENT) today announced a new collaboration to help accelerate IBM Cloud Pak deployments to speed clients' enterprise modernization and their move to the cloud. Over the last year, more than 2,000 Persistent engineers and technical professionals have been extensively trained on critical containerization and Kubernetes skills needed to deliver value in multi-cloud environments, especially those leveraging IBM Cloud Paks on Red Hat OpenShift. Persistent also announced a new IBM Cloud Pak deployment practice to help organizations migrate and modernize IBM workloads across all cloud environments, including IBM public cloud and IBM Cloud services. 

Persistent has been an IBM Business Partner for more than 17 years. Persistent's expertise in solution development helps clients upgrade and migrate critical applications by leveraging the IBM Cloud Pak portfolio, including IBM Cloud Paks for Data, Automation, and Security. IBM Cloud Paks are enterprise-ready containerized software solutions built on Red Hat OpenShift, designed to provide an open, faster and more secure way to move core business applications across all cloud environments, including IBM public cloud and IBM Cloud services.

"IBM's collaboration with Persistent provides important skills to help enterprise businesses accelerate the migration of their critical workloads to the IBM public cloud," said Cameron Clayton, General Manager Cloud Ecosystem and Weather, IBM. "IBM Cloud Paks can help businesses experience the full benefits of modern infrastructure by offering them the flexibility to upgrade applications and accelerate their journeys to the cloud."

Red Hat OpenShift, the industry's most comprehensive enterprise Kubernetes platform, running on IBM public cloud, helps clients deploy and manage enterprise workloads across hybrid cloud environments. Enterprises using Red Hat OpenShift can scale across IBM's global footprint of data centers and multi-zone regions and consistently monitor, log, and help secure their applications.

"As a trusted partner helping to deploy IBM Cloud Paks, we made the strategic investment in our skills to ensure Persistent was well prepared for the continued industry shift toward multi-cloud," said Chris O'Connor, CEO and Executive Director, Persistent Systems. "We recognize that Red Hat OpenShift, containerization, and Kubernetes skills are critical for scalable and cost-efficient IT modernization. By combining these future-ready skills with our established cloud platform expertise and rich history of IBM product development, we believe Persistent is uniquely positioned to accelerate Cloud Pak deployments."

Persistent is part of the IBM public cloud ecosystem, an initiative to support global system integrators and independent software vendors to help clients modernize and transform mission-critical workloads on the IBM public cloud. The IBM public cloud is the industry's most open and secure public cloud for business. With its security leadership, enterprise-grade capabilities and support for open source technologies, the IBM public cloud is designed to differentiate and extend on hybrid cloud capabilities for enterprise workloads.

With 11,000 employees around the world, Persistent is a global solutions leader, delivering digital business acceleration and enterprise modernization for businesses across industries and geographies. Persistent's size and experience give it the ability to scale quickly to meet the needs of enterprise customers.

For more information, visit www.ibm.com/cloud/public  

Red Hat and OpenShift are trademarks or registered trademarks of Red Hat, Inc. or its subsidiaries in the U.S. and other countries.

Lowell Eschen
IBM Media Relations
Lowell.Eschen@ibm.com

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/ibm-and-persistent-systems-to-accelerate-ibm-cloud-pak-deployment-and-core-it-modernization-for-enterprises-301069826.html

SOURCE IBM


© PRNewswire 2020
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Financials (USD)
Sales 2020 73 545 M - -
Net income 2020 8 020 M - -
Net Debt 2020 49 771 M - -
P/E ratio 2020 14,0x
Yield 2020 5,04%
Capitalization 112 B 112 B -
EV / Sales 2019
EV / Sales 2020 2,20x
Nbr of Employees 352 600
Free-Float 39,6%
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Technical analysis trends INTERNATIONAL BUSINESS MAC
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TrendsNeutralNeutralNeutral
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 20
Average target price 127,59 $
Last Close Price 126,00 $
Spread / Highest target 19,0%
Spread / Average Target 1,26%
Spread / Lowest Target -28,6%
EPS Revisions
Managers
NameTitle
Arvind Krishna Chief Executive Officer & Director
James M. Whitehurst President, Head-Strategy, Cloud & Cognitive
Virginia M. Rometty Executive Chairman
James J. Kavanaugh Chief Financial Officer & Senior Vice President
Juan Antonio Zufiria Senior VP-IBM Global Technology Services
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