IBM has introduced its new cloud service LotusLive Connections that combines business social networking with collaboration tools. Part of its cloud service portfolio, LotusLive and LotusLive Connections reportedly extend the company’s reach into new markets.

Bob Picciano, general manager of IBM Lotus Software, said: IBM is an established leader in two major trends: cloud computing and social networking for business. At the nexus of these trends is LotusLive Connections. LotusLive Connections brings companies of all sizes the ability to build, share information and easily work with their extended business network over the web.

According to the company, LotusLive Connections helps individuals, departments and small businesses tap into the resources and capabilities that previously have only been accessible to large enterprises. Using core elements of its Lotus Connections social software, the new offering connects colleagues, partners, suppliers and customers from within and beyond firewalls.

IBM said that LotusLive Connections simplifies working together. Instant messaging, file sharing and other activities are all accessible for use with LotusLive networks. Networking, sharing and collaborating are integrated in LotusLive Connections. The new offering will be available on June 30, 2009.