IBM, a longstanding player in IT and storage, has transitioned towards cloud services and containerization to address declining revenue. Founded in 1911, it has evolved from punch-card systems to becoming a key enterprise solutions provider. Notable was its $34 billion acquisition of Red Hat in 2019, enhancing its capabilities in Linux and cloud products. In 2023, IBM ranked eighth in external storage revenues with 4.7% market share, a decline from its previous positions, reflecting ongoing challenges amidst emerging competitors.
IBM's transition towards cloud services and containerization reflects its attempt to regain market share and adapt to modern technology demands.
Founded in 1911, IBM has a significant legacy but faced revenue declines, prompting a focus on enterprise solutions and the acquisition of Red Hat.
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