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Verizon has reached a deal to sell its cloud and managed hosting service to IBM, the company announced Tuesday in a blog post. The terms of the deal were not disclosed.
The move comes as Verizon has finalized its deal with Equinix where it sold 29 data centers to Verizon for $3.6 billion.
In a blog post this week, George Fischer, SVP and Group President of Verizon Enterprise Solutions said that it will notify affected customers directly, but it does "not expect any immediate impact to their services as a result of this agreement."
"We will formally notify and update customers as appropriate with additional information nearer the close of the deal. We expect the transaction to close later this year," he said.
“This agreement presents a great opportunity for Verizon Enterprise Solutions (VES) and our customers,” Fischer said in the post. “It is the latest development in an ongoing IT strategy aimed at allowing us to focus on helping our customers securely and reliably connect to their cloud resources and utilize cloud-enabled applications. Our goal is to become one of the world’s leading managed services providers enabled by an ecosystem of best-in-class technology solutions from Verizon and a network of other leading providers.”
The companies will also work together on “a number of strategic initiatives” related to cloud and networking.
The deal was reached last week, according to Fischer. VES will continue offering intelligent networking, managed IT services and business communications, and also investing in technology to help customers improve application performance, streamline operations, and secure data in the cloud.
IBM recently launched four new cloud data centers in the U.S., bringing its national total to 22.