Tech giant IBM (IBM) announced that it is acquiring Txture GmbH, a software company based in Innsbruck, Austria, to boost its cloud transformation services. Notably, Txture builds tools that help companies move their technology systems to the cloud, upgrade old systems, and manage hybrid cloud environments. As a result, IBM Consulting plans to use these tools to support companies looking to modernize their IT infrastructure.
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More specifically, Txture’s software will now become part of IBM’s consulting platform, where it will help IBM teams plan and run cloud projects more quickly. In fact, it can automatically analyze a company’s current systems and suggest the best path forward, thereby reducing manual work and improving accuracy. This also supports environmental goals by helping clients lower the carbon footprint of their IT systems.
Interestingly, Txture has already supported over 100 cloud projects worldwide and helped analyze more than 50,000 applications for enterprise clients and global system integrators. In addition, the company originated as a spin-off from the University of Innsbruck’s Institute of Computer Science, which gave it access to academic research and top talent. Therefore, IBM believes this deal will let it deliver faster results and better advice to clients working in cloud environments.
Is IBM a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on IBM stock based on six Buys, six Holds, and one Sell assigned in the past three months, as indicated by the graphic below. Furthermore, the average IBM price target of $294.75 per share implies 5.1% downside risk.
