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

INTERNATIONAL BUSINESS MACHINES CORPORATION

(IBM)
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International Business Machines : Rocket Software Renews Commitment to Open Source on the Mainframe With New Product Offering

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09/25/2020 | 08:05am EDT

Company launches unique open source delivery and support model for IBM Z.

Extending its commitment to open source development on legacy technology systems, Rocket Software, a global software leader in IBM Z and IBM i modernization, today unveiled Rocket Open AppDev for Z, a new and innovative way for the mainframe community to securely adopt, manage, and obtain support for IBM Z ported open software.

Open-source technologies offer users many modernization and efficiency benefits, especially in mainframe development. This often leads individuals and development teams to take a do-it-yourself approach when they download, install, and use these tools. Open-source tools can be combined with different products developed by different communities and can be undermanaged, leading to version latency and code vulnerabilities. This creates unintentional regulatory and security risks for the business. Rocket Open AppDev for Z helps mitigate the risks associated with open software, offering a solution that provides developers with a package of open tools and languages they want, along with the security, easy management and support IBM Z customers require.

'We wanted to solve three common customer challenges that have prevented enterprises from leveraging the flexibility and agility of open software within their mainframe environment: user and system programmer experience, security, and version latency,' said Peter Fandel, Rocket's Product Director of Open Software for Z. 'With Rocket Open AppDev for Z, we believe we have provided the most innovative, secure path forward for our customers. Businesses can now extend the mainframe's capabilities through the adoption of open source software, making IBM Z another valuable platform for their DevOps infrastructure.'

To meet these common customer challenges, Rocket Open AppDev for Z provides:

Most popular tools in the distributed world curated for IBM z/OS, along with Rocket's world-class support.

A secure delivery and deployment system that gives administrators control over user access, ensuring that they are only using open software from trusted sources.

A solution to manage version currency through Rocket's automated porting technology.

'It's not even a question anymore: open source is the future of technology, and organizations that don't embrace this are going to be left behind,' said Milan Shetti, President of Rocket's Z Systems Business Unit. 'We are focusing our innovation on creating tools that people need to access, use, and benefit from mainframe systems. This year has been extremely challenging, yet legacy systems have proven their worth every single day. Open source is only extending the amazing results that these technologies power.'

About Rocket Software

Rocket Software empowers organizations to create legendary impact in the world through innovation in legacy technologies. With deep expertise in IBM Z, IBM Power, and database systems and connectivity solutions, Rocket provides solutions that power tens of thousands of global businesses, solving real problems and making real-world impact. Rocket is a privately held U.S. corporation headquartered in the Boston area with centers of excellence strategically located throughout North America, Europe, Asia, and Australia.

Press Contact:

Richard Berman

rberman@rocketsoftware.com

647-294-8372

Rocket Software

77 4th Avenue

Waltham, MA 02451 USA

(C) 2020 Electronic News Publishing, source ENP Newswire


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Financials (USD)
Sales 2020 73 927 M - -
Net income 2020 5 417 M - -
Net Debt 2020 50 627 M - -
P/E ratio 2020 18,5x
Yield 2020 5,81%
Capitalization 99 495 M 99 495 M -
EV / Sales 2020 2,03x
EV / Sales 2021 1,97x
Nbr of Employees 352 600
Free-Float 39,7%
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 16
Average target price 137,50 $
Last Close Price 111,66 $
Spread / Highest target 43,3%
Spread / Average Target 23,1%
Spread / Lowest Target 4,78%
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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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