May 06, 2017 10:10 AM EDT
The largest U.S. wireless telecommunications conglomerate, Verizon Communications, is all set to sell its cloud and managed hosting business to IBM. Back in 2011, Verizon created a loftier business trade with its partner Terremark; however, a few days ago, Verizon sold 29 of its data centers to Equinix and then announced that it's going to partner with IBM by selling its cloud and managed hosting business.
According to Techcrunch, in line with SVP and group President of Verizon Enterprise Solution George Fischer, IBM and Verizon will lead the global organization like a team. Together they will work on a number of unspecified "Strategic Initiatives" which involves networking and cloud service. He also mentioned that this agreement will bring great opportunities for Verizon and its customers. Because the ongoing IT strategy is mainly aimed to help the customers to utilize their cloud services more securely.
The companies, IBM and Verizon, haven't yet disclosed the terms of the deal, though it is hoped that by the end of 2017 it will be closed. Addressing the customers, Mr. Fischer assured that users of Verizon's cloud will not face any sudden changes in their services. When the terms will be disclosed customers will get a formal notification about it if required.
Channel Partners, recently reported that Verizon closed Verizon Public Cloud and reserved Public Cloud in the last quarter of April. If we follow Verizon's recent selling structure, it will be clear why Verizon sold 29 of its data centers to Equinix for $3.6B. In Frederic Lardinois's opinion, the move of selling cloud to IBM pretty much indicates the end of Verizon's loftier business in the cloud. He also mentioned that Verizon never reached the level to compete with Amazon, Google or Microsoft and also was unable to scale its cloud business for a long run with this huge competition going on.
So by selling its cloud and managed hosting business to the quickly growing IBM's private cloud business, Verizon wants to settle its feet on a safe ground. It is hoped that the famous intelligent networking and business communication provider Verizon and the current leader in hosted public cloud IBM, together will create another level.
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