leaders: The company once synonymous with mainframe computing has been slow to adopt cloud-related technologies and has had to play catch-up to market leaders Amazon Inc. and Microsoft Corp. in offering computing and other software and services over the internet, according to The Toronto Star. IBM said it has reached a deal to buy software company Red Hat for 34 billion, a move the computing giant said would enhance its cloud offerings, a key area of growth. The cash deal, IBM's biggest by far, boosts the 107-year-old computer-services giant's credentials overnight in the fast-growing and lucrative cloud market and gives it much-needed potential for real revenue growth. PAU BARRENA / AFP/GETTY IMAGES We've been reshaping IBM for this moment, chief executive officer Ginni Rometty said in an interview with Bloomberg TV on Monday. IBM has been positioning itself as a leader in the so-called hybrid cloud market in which companies run programs on both their own internal servers and the big public cloud providers Amazon's AWS and Microsoft's Azure at the same time. This is all about resetting the cloud landscape and this is the inflection point to do it.
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