Like many other companies, IBM too has been focusing heavily on cloud computing of late and it is expecting its cloud business to touch 7billion dollars by the year 2015. This is certainly a fast growth since the company started dealing in cloud computing about 6 years ago, i.e. in 2007. Its cloud revenue has grown in leaps and bounds since then and it has acquired several other companies worth billions of dollars.
The SEC or the Securities and Exchange Commission seems to be investigating some aspects of the manner in which the cloud computing revenues are reported by IBM, it was learnt in a statutory filing by the company.
Although the SEC or the IBM had nothing much to say in detail about the nature of the investigations or the purpose behind it, the IBM spokesperson said the company is pretty confident and will come out clean since they follow all generally accepted principles of accounting, irrespective of the cloud or off-cloud businesses.
Read more about Cloud Computing