Platform Computing Has Been Acquired by IBM

Platform Computing Profile

  • Platform Computing, a privately-held company, was the leading independent provider of cluster, grid and cloud management software, and was widely viewed as the vendor of choice for compute- and data-intensive applications
  • The company’s products were considered “mission critical” technology in the electronics and financial services industries; Platform also had a strong presence in manufacturing, energy, life sciences and government
  • Headquartered in Toronto, Platform had approximately 500 employees with other major offices in Beijing, San Jose and Xi’an
  • Founded in 1997, Platform never raised outside capital and was self-funded by the founding team

IBM Profile

  • IBM Corporation (NYSE: IBM) is a global diversified information technology firm
  • One of the largest technology firms in the world, IBM provides IT hardware and software as well as infrastructure, hosting and consulting services
  • In 2008, IBM launched the “Smarter Planet” initiative, which seeks to deploy the company’s IT products and services to cultivate economic growth, societal progress and sustainable development
  • At the time of the acquisition, IBM employed approximately 425,000 people in over 200 countries worldwide
  • The company is headquartered in Armonk, NY

Transaction Notes

  • The acquisition of Platform Computing by IBM was announced on October 12, 2011; financial terms were not disclosed
  • “IBM considers the acquisition of Platform Computing to be a strategic element for the transformation of HPC into the high growth segment of technical computing and an important part of our smarter computing strategy.” – Helene Armitage (General Manager of IBM Systems Software)
  • Resource-intensive applications have increasingly become “mission-critical” across a wide range of industry verticals including financial services and life sciences in additional to more traditional electronics design and research use cases – these enterprises have increasingly turned to clusters, grids and clouds built from commodity hardware for the associated compute- and data-intensive workloads
  • The acquisition of Platform builds off an ongoing effort within IBM’s Systems & Technology Group (STG) to capitalize on these trends and focus on the mainstream commercial customers for whom compute- and data-intensive computing is a critical success factor
  • Platform will bring to IBM the industry’s leading infrastructure products for HPC and technical computing applications, including more recent technology trends such as "big data" analytics (Map/Reduce, Hadoop); Platform also provides newer technology that will improve IBM's cloud and dynamic data center product offerings
  • The acquisition of Platform Computing was the culmination of a six-year relationship between Platform and Shea & Company; Shea & Company served as the company’s exclusive financial advisor on the transaction
Financial terms not disclosed
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Shea & Company served as the exclusive financial advisor to Platform Computing's Board of Directors and management