Gravitant Acquired By IBM

Austin-based cloud management software developer Gravitant has been acquired by IBM, the two said earlier this week, to help IBM bolster its hybrid cloud and enterprise services. Financial terms of the acquisition were not announced. Gravitant, which was led by Mohammed Farooq,as founded in 2004. IBM said that Gravitant will become part of its IBM Global Technology Services unit. Gravitant was venture backed by Cielo Private Equity, Corsa Venture, and S3 Ventures, and had raised around $38.7M in funding.