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Tuesday, October 20, 2020

IBM is breaking up into two: 10 ‘biggest numbers’ you need to know

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The 109-year-old IT giant IBM is breaking into two. The company will list its IT infrastructure services unit as a separate company with a new name. IT infrastructure unit provides outsourcing services including technical support for data centers. The move is fourth major transformation for IBM and is expected to improve its prospects against rivals such as Amazon, Microsoft and Google. In a blog, chief executive officer (CEO) Arvind Krishna called the move a “significant shift” in the company’s business model. The company now plans to focus on open hybrid cloud and AI solutions that will account for more than half of its recurring revenues. The stock markets cheered the news, with IBM’s stock going up. Here are all the big numbers you need to know about the ‘break-up’

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