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News Summary: Cloud computing rains deals

The Associated Press

CLOUD DEALS: Two deals Tuesday highlighted the high-stakes scramble to buy some of the early leaders in the cloud-computing movement.

BILLION-DOLLAR TARGETS: Salesforce.com Inc. said it will spend about $2.5 billion to buy ExactTarget Inc. Meanwhile, IBM Corp. is snapping up SoftLayer Technologies Inc. IBM didn't disclose the financial terms of the deal, but The Wall Street Journal pegged the cost at about $2 billion.

NO KOOKY CRAZE: Cloud computing refers to the practice of renting software and other computing accessories over the Internet. It has moved to the mainstream in the past six years as the popularity of powerful smartphones and tablet computers has driven the demand for services that can be reached from any Internet-connected device.