Sizzling News Announcement: International Business Machines Corp (NYSE:IBM)

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On Wednesday, Shares of International Business Machines Corp (NYSE:IBM), inclined 0.26% to $150.01.

IBM (NYSE: IBM) declared that Bluemix, its cloud computing platform, will be available in China via a partnership with 21Vianet Group, Inc., a leading carrier-neutral internet data center services provider in China. This partnership will usher in a new era of hybrid cloud-driven innovation and next-generation cognitive, analytics and IOT app development for developers and enterprises in China.

As part of the agreement, IBM will provide access to Bluemix technologies, while 21Vianet will provide the infrastructure and be responsible for the end-to-end operation of Bluemix in China. Both companies will also use this partnership to build and expand a strong Bluemix ecosystem in China, with the aim of driving other developers and large enterprises to adopt similar models of hybrid cloud-based development to efficiently build new apps and technologies.

IBM launched Bluemix with a $1 billion investment in 2014, and since then it has grown rapidly to become the largest Cloud Foundry deployment in the world. The open-standards-based Bluemix catalog comprises over 120 tools and services spanning categories of big data, mobile, Watson, analytics, integration, DevOps, security and Internet of Things.

Cloud computing is the cornerstone for assisting organizations drive innovation and entrepreneurship in China. We believe that the launch of Bluemix will assist Chinas burgeoning community of developers create apps that have the power to impact and change industries throughout the country, said Robert LeBlanc, senior vice president, IBM Cloud. The partnership with 21Vianet Group builds on the growing global adoption of Bluemix, and we are excited to bring it to the rapidly expanding developer population of China.

The stock closed its last trade at $150.01. The market capitalization for the company is reported at $146.59B.

Looking at other metrics of the stock, we find that latest closing price of $150.02 is at a discount to its 200-day moving average price of $160.53. Its intraday range has been $149.02 to $ 150.65; it is trading at discount as compared to its 52-week high of $183.79achieved on Oct 15, 2014, and a premium to its 52-week low of $ 140.56 faced on Oct 2, 2015. Turning to market valuation, the P/S ratio is 1.69. The stock is down 4.59% in this year through last close, and the beta ratio has a value of 0.70. The stock, as of recent close, has shown weekly upbeat performance of 0.56%, in opposition to 2.73% in 1-month period.

Josh Chen, Chairman and CEO of 21Vianet Group, Inc., said, IBM is a global, leading enterprise-level cloud computing provider. Recentlys news is the extension of IBMs partnership with 21Vianet in 2014 on Cloud Managed Services. 21Vianet will now also work with IBM to promote the development of enterprise cloud computing in China. Using Bluemix, well provide more open enterprise cloud computing development environments, and build a complete enterprise cloud computing ecosystem with other domestic and foreign services providers throughout the country.

International Business Machines Corporation is a technology company. The Company operates in five business segments: Global Technology Services (GTS), which comprises Planned Outsourcing, Integrated Technology Services, Cloud and Technology Support Services, and also provides information technology (IT) infrastructure and business process services; Global Business Services (GBS), which offers its services across Consulting and Systems Integration, Global Process Services and Application Administration Services; Software, which comprises of middleware and operating systems software; Systems and Technology (STG), which provides infrastructure technologies, and Global Financing, which provides financing solutions for products or services that are critical to the end users business operations.

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