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My guess is it'll be IBM.

Based upon some research into numbers...

They'll absorb the talent. Expand IBMs offering of Vault-ish product while basically reselling Vault as a line item addition to their existing line items.

Less pain for IBM from license drama and the selling of open source Vault with an IBM tweak to a MUCH larger user base with zero sales expense.

IBM gets all Vault talent Hashi gets massive market without sales

Hashi is $800MM revenue because of 80% sales and marketing.




IBM is backing OpenTofu and OpenBao AFAIK. They're supposedly one of the main reasons for the licensing change. Cisco was looking to buy HC years ago, I would bet they're still interested (wonder if it will be for less money...)


Could easily be leverage in the negotiation.


IBM is a good guess but it would probably be more accurate at this stage to point at anyone that missed the cloud wars and are claiming to be a “multi-cloud manager.”

Definitely IBM, maybe Nutanix, possibly Broadcom. Hell, maybe even Cisco.


> My guess is it'll be IBM.

Could have Cisco as well! They are a lot more engaged in transforming themselves and doing a lot of M&A




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