IBM has unveiled the $42 million Compute Cloud Centre in Canada in an effort to address demand from enterprises who want to reduce costs, increase efficiencies and access new technologies.

Analytics and mobile computing were named as being the top technologies that enterprises are looking to access.

The new instillation will offer Canadian businesses the ability to securely develop, host and test applications while paying only for the computational power they use.

The new Cloud Centre will run alongside IBM's existing network of 17 data centers across Canada.

First clients to sign up for the new centre are IT solution provider VisionMax and Buchanan Technologies, an IBM business partner.

"This is an innovation investment in Canada that will help Canadian businesses capture the promise of new computing models to drive productivity and increase competitiveness," said Bruce Ross, President, IBM Canada. "IBM's breadth of global expertise in cloud computing will provide Canadian organisations with an unparalleled level of service and reliability as they drive innovative business transformation."