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International Business Machines IBM recently announced that Red Hat Open Innovation Labs along with Curriki is developing e-learning solutions.
Red Hat Open Innovation Labs is a 4-12 week residency wherein engineers are paired with Red Hat experts to learn how to adopt Red Hat technology.
Curriki completed the six-week residency to develop educational solutions for students utilizing a flexible approach to provide digital solutions.
With the help of Red Hat OpenShift, the Curriki team made its solutions more reliable and available by optimizing code, leveraging auto scaling capabilities and automating installation through push button deployment.
Red Hat Innovation Labs introduced agile methodology, including DevOps, to Curriki’s teams enabling them to increase productivity.
International Business Machines Corporation Price and Consensus
International Business Machines Corporation price-consensus-chart | International Business Machines Corporation Quote
Demand for Hybrid Cloud Platform to Aid Growth
IBM primarily generates revenues from its cloud & cognitive software services, business services and technology services.
IBM has been betting big on hybrid cloud platforms. According to a Mordor Intelligence report, the hybrid cloud market is expected to witness a CAGR of 18.73% over the 2021-2026 period. This is expected to boost revenues for IBM in the long term.
IBM’s cloud and data platforms services revenues grew 13% in the first quarter, which was mainly led by the company’s hybrid platform growth.
IBM’s acquisition of Red Hat was massive, and it hopes to become the largest hybrid cloud platform provider through this buyout. Currently, there are 3000 hybrid platform clients. Notably, revenues from Red Hat grew 17% year over year in the first quarter. This buyout helped IBM to enhance containerized software capabilities and accelerate service management.
Earlier this month, IBM announced collaboration with GK Software to help drive next generation retail supported by hybrid cloud technology. This will help consumers and retailers to adapt to the digital transformation by offering consumers enhanced experiences. Recently, Harmont & Blaine and Pitney Bowes announced that it has selected IBM for cloud services to support its expansion into international markets, and support its global business plans and goals.
Despite stiff competition in the cloud vertical from Amazon’s AMZN Amazon Web Services (AWS), Microsoft’s MSFT Azure and Alphabet’s GOOGL Google Cloud, this Zacks #3 Rank (Hold) company’s diversified services and escalated hybrid cloud platform services continue to act as tailwinds.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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