Shareholders at San Francisco-based multicloud infrastructure automation company HashiCorp (Nasdaq: HCP) have approved IBM’s (NYSE: IBM) proposed acquisition offer.
HashiCorp said Monday both companies expect the transaction to conclude by the end of 2024, pending receipt of regulatory clearances and satisfaction of other customary closing conditions.
“We are pleased to achieve this important milestone towards officially joining IBM and thank our stockholders for their support,” said HashiCorp CEO Dave McJannet.
“By uniting two leading technology businesses with complementary visions, this transaction provides an incredible opportunity to accelerate HashiCorp’s mission,” McJannet added.
In April, IBM agreed to buy HashiCorp for approximately $6.4 billion, or $35 per share in cash, to expand its infrastructure and security lifecycle management capabilities to help organizations automate their multicloud and hybrid cloud environments amid the rapid deployment of artificial intelligence technologies.
