IBM Acquires Australian Hybrid Cloud Consulting Business SXiQ

IBM announced the acquisition of SXiQ, an Australian digital transformation services company specializing in cloud applications, cloud platforms, and cloud cybersecurity. Financial details were not disclosed.

Organizations are increasingly turning to multiple cloud providers and platforms to best meet a broad range of business needs. A recent global IBM study found that hybrid cloud is the dominant IT architecture with only three percent of C-level executives using a single private or public cloud in 2021.

SXiQ works with leading Australian enterprises, as well as the Australian operations of global Fortune 2000 companies, to successfully migrate and modernize their cloud infrastructure and applications across multiple industries including financial services, consumer products, energy, healthcare, and the public sector. The company also works with clients to monitor and optimize their spending on cloud resources, helping enterprises unlock greater value from their cloud investment to realize cost savings of 20 percent or more.

This is the 20th acquisition and tenth consulting acquisition since Arvind Krishna became IBM's CEO, adding to the significant investments the company is making in its hybrid cloud and AI strategy. The announcement of the SXiQ acquisition follows recent acquisitions by IBM of leading cloud consulting firms Nordcloud, Taos, and BoxBoat earlier this year, which significantly expanded IBM's multi-cloud transformation, management expertise, and capabilities in Europe and North America.

SXiQ will join IBM Consulting's fast-growing Hybrid Cloud Services business, helping IBM capitalize on a rapidly growing cloud professional services market which will surpass $200 billion globally by 2024.  SXiQ's team of technology consultants brings expertise transforming and migrating enterprise workloads on cloud platforms including Amazon Web Services and Microsoft Azure.