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Verizon sells cloud services unit to IBM

Verizon has reached an agreement to sell off its cloud and managed hosting service assets to IBM, illustrating that it is backing away from the cloud services space.

This is quite a different turn of events for Verizon. The service provider had high hopes for being a major cloud and data center player when it purchased Terremark in 2011.

Just this week, Verizon completed the sale of its data center facilities to Equinix. Specifically, Verizon sold off 29 data centers and their operations for $3.6 billion in an all cash transaction includes over 1,000 customers.

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