SoftLayer Acquisition By IBM Completes

The acquisition of Dallas-based SoftLayer Technologies by IBM is now closed, according to IBM Monday. IBM had announced in June that it would be buying the Dallas cloud computing infrastructure and hosting firm. Financial details of that transaction have not been announced. SoftLayer becomes part of a new, IBM cloud services division, which combines both SoftLayer and IBM's existing SmartCloud division. IBM said it is using the acquisition to help accelerate its cloud initiatives; IBM said it expects its cloud revenues to reach $7 billion annually by the end of 2015.