https://techcrunch.com/2024/04/24/ibm-moves-deeper-into-hybrid-cloud-management-with-6-4b-hashicorp-acquisition/

IBM wisely gravitated away from trying to be a pure cloud infrastructure vendor years ago, recognizing that it could never compete with the big three: Amazon, Microsoft and Google. It has since moved onto helping IT departments manage complex hybrid environments, using its financial clout to acquire a portfolio of high-profile companies.

It began with the $34 billion Red Hat acquisition in 2018, continued with the Apptio acquisition last year, and it kept it going on Wednesday when the company announced that it would be acquiring cloud management vendor HashiCorp for $6.4 billion.