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International Business Times UK
International Business Times UK
Technology
Tanmay Puri

After Massive Layoffs, IBM Spends £8.9 Billion to Acquire Confluent - Here's Why

IBM Confluent United States
Why IBM Spent USD 11 Billion on Confluent After Cutting Thousands of Jobs Across the Company (Credit: Pexels)

IBM has just announced a massive acquisition of Confluent for a staggering USD 11 billion, even as the technology giant has recently carried out widespread layoffs.

Now, this decision is highly controversial, as IBM attempts to reconfigure itself for an AI-driven future by shedding the old way of working and building high-value data and cloud capabilities.

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