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International Business Machines Corp said on Tuesday it has closed its $34 billion acquisition of software company Red Hat Inc as it looks to ramp up its cloud computing business.

Ginni Rometty, IBM chief executive since 2012, has steered the company toward faster-growing segments such as cloud, software and services and away from traditional hardware products, but not without a bumpy journey. The newer areas of focus have sometimes underwhelmed investors.

Via: David Shepardson for Reuters

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