Many IT organizations are confronted with the question whether to modernize their IT infrastructure. While most data centers run on a virtualized environment, Cloud Computing technology emerges with new characteristics on fast provision of standardized resources in a scalable IT infrastructure. Public cloud vendors offer IT services on demand, so that IT organizations do not have to operate their own hardware. Moreover, private cloud architectures gain influence, claiming to provide flexible and elastic IT infrastructure. The paper at hand guides the strategic decision for adoption of Cloud Computing on IT infrastructure. Therefore, we first introduce a taxonomy for IT infrastructure encompassing a technological and a sourcing perspective. Second, we evaluate selective areas of the taxonomy adopting the SWOT framework to understand both opportunities and challenges of Cloud Computing for IT infrastructure from a business perspective.