Cloud IT deals worth $4.5bn

TWO companies underlined the potential of the cloud computing revolution yesterday, paying a combined $4.5bn (£2.9bn) on two acquisitions in the space.

IBM spent around $2bn on SoftLayer, a Texas-based web hosting company while cloud computing firm Salesforce acquired ExactTarget, a digital marketing software firm, for $2.5bn. The two deals represent the lucrative opportunity on offer in enterprise cloud computing, as businesses seek to outsource more of their operations online as well as storing data on the internet.