IBM will soon be taking over the managed hosting and managed application services of AT&T. They are acquiring the equipment and gaining access to the AT&T data centers.
AT&T has been looking for different opportunities to let go of some of their data center assets. The search has been going on for about a year and the assets are worth about $2 billion.
IBM will be integrating the services into their already extensive cloud service offerings. Terms of the deal have yet to be disclosed.