IBM recycles telco clouds, adding Verizon into the mix
On May 2, just one day after the sale of its Americas data centers to Equinix (Nasdaq GS: EQIX) closed, Verizon (NYSE: VZ) announced the sale of its cloud and managed hosting business to IBM (NYSE: IBM). This sale finally removes Verizon from the cloud market that it has been effectively exiting since shuttering its public cloud compute services in April 2016. Verizon has continued to deliver virtual private cloud and dedicated private cloud services over the last year, but will now transfer these assets and customers, as well as its managed hosting business, to IBM. This transaction is similar to the one telco peer AT&T executed with IBM in December 2015.