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World News – CA – IBM to transform managed infrastructure services unit into public company

The new company will offer hosting and network services, service management, infrastructure mode and migration, as well as multi-cloud environment management

International Business Machines Corp has said it will split its Managed Infrastructure Services unit, which is currently part of its Global Technology Services division, into a new public company, as part of its hybrid cloud strategy

The new company, which IBM will later name, will offer hosting and network services, service management, infrastructure mode and migration, as well as multi-cloud environment management, IBM said Thursday

IBM said the split, which should be tax-free for shareholders, would streamline its operations.The two entities are expected to initially pay a combined quarterly dividend of at least IBM’s dividend per share before the split, has IBM declared The transaction is expected to close by the end of 2021

Managed Infrastructure Services unit has relationships with 4,600 customers in 115 countries, operating in what IBM sees as a $ 500 billion market opportunity The spun-off unit will focus on artificial intelligence and automation, helping businesses make their infrastructures more efficient, IBM said IBM said the new company would be able to partner with all cloud providers and add investments, which means more opportunities for profit growth and cash generation.

IBM, Cloud computing, infrastructure, corporate spin-off, information technology, publicly traded company

World news – CA – IBM to sell unit of infrastructure services managed in a public company


SOURCE: https://www.w24news.com

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