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NEW YORK (TheStreet) -- International Business Machines (IBM) - Get International Business Machines Corporation Report stock is up by 2.44% to $152.03 in mid-morning trading on Thursday, after the company reached a deal to acquire Bluewolf Group, a company that consults businesses on how to use (CRM) and other cloud software applications.

IBM is paying slightly more than $200 million for the company, sources told Re/code, though the companies didn't disclose financial terms of the deal.

Bluewolf will join IBM Interactive Experience, a division of the technology giant's massive Global Business Services consulting unit. 

IBM customers will benefit as Bluewolf's expertise merges with IBM services such as mobile application development with Apple (AAPL), Paul Papas, global leader of the IBM unit, told The Wall Street Journal. 

The acquisition is expected to close during the 2016 second quarter. Including this deal, IBM has completed 10 cloud-related acquisitions, the Journal reports.

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Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C+.

IBM's strengths such as its expanding profit margins and notable return on equity are countered by weaknesses including feeble growth in the company's earnings per share, unimpressive growth in net income and generally higher debt management risk.

You can view the full analysis from the report here: IBM

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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