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ARQA is a part of a global structure, that connects a broker`s technological area with technological areas of exchanges and trading platforms.

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IBM and Banco de Credito del Peru Announce Strategic IT Services Partnership With Total Contract Value of More than US $100M

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Verizon Plans To Integrate CloudSwitch's Operations Into Its Terremark IT Services And Hosting Unit

Published on 27 Aug 2011

Verizon said that it has acquired CloudSwitch, a software startup whose technology helps IT teams move applications and services from local data centers to cloud-based options and between third-party clouds.

Verizon said it plans to integrate CloudSwitch's operations into its Terremark IT services and hosting unit. Financial terms of the deal were not reported.

CloudSwitch offers software that effectively provides a bridge to the cloud for local apps. It has produced in software an "isolation layer" for an enterprise workload. By using it, a cloud customer may leave an existing application in its VMware virtual machine format, but move work into the cloud. The isolation layer can translate that workload to the cloud's virtual machine hypervisor.

Verizon officials said CloudSwitch's technology should spur the adoption of cloud services by removing fear of lock-in and other significant migration pain points. "We couldn't find anything else like this," said Kerry Bailey, president of Verizon's Terremark unit, in an interview.

"We've always maintained that the cloud should be open, that APIs should be open, and that we must overcome this issue of cloud lock-in."

Bailey said Verizon's cloud services business, including Terremark, is growing at about 30% annually. The company plans to use CloudSwitch's Boston base as a hub for further software development efforts under its cloud strategy. Rubin said she plans to stay on with the company and will report to Bailey. Verizon acquired Terremark earlier this year for $1.4 billion.

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