- International Business Machines Corp is splitting itself into two public companies, capping a years-long effort by the world’s first big computing firm to diversify away from its legacy businesses to focus on high-margin cloud computing.
The new company will have 90,000 employees and its leadership structure will be decided in a few months, Chief Financial Officer James Kavanaugh told Reuters. Investors cheered the surprise move by Chief Executive Officer Arvind Krishna, the key architect behind IBM’s $34 billion acquisition of cloud company Red Hat last year, sending the company’s shares up 7%.
“IBM is essentially getting rid of a shrinking, low-margin operation given the cannibalizing impact of automation and cloud, masking stronger growth for the rest of the operation,” Wedbush Securities analyst Moshe Katri said.
I. Be. Move. the world.
gibsosyalmedya
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
IBM to break up 109-year old company to focus on cloud growthInternational Business Machines Corp is splitting itself into two public companies, capping a years-long effort by the world's first big computing firm to diversify away from its legacy businesses to focus on high-margin cloud computing. Did you know that IBM was still a real thing? So like a horcrux? The new company can be called Imbecile Bureaucrat Maker.
Source: Reuters - 🏆 2. / 97 Read more »
IBM to spin off IT infrastructure unit, focus on cloud businessInternational Business Machines Corp said on Thursday it would spin off its IT infrastructure unit to focus more on cloud computing, a high-margin business that has seen a boost as companies increasingly ramp up their digital shift.
Source: Reuters - 🏆 2. / 97 Read more »
IBM to spin off infrastructure services as new public companyInternational Business Machines Corp said on Thursday it would spin off the managed infrastructure services unit of its Global Technology Services division into a new public company. Como?empresa privada a pública porque? Como es eso.....
Source: Reuters - 🏆 2. / 97 Read more »
Stocks making the biggest moves in the premarket: IBM, Eaton Vance, Domino's Pizza, Coty & moreThe stocks making the biggest moves in premarket trading include IBM, Eaton Vance, Domino's Pizza, Coty, and more. Stocks high in times of Sarscov2 pandemic will crash when normalcy returns after antivirus successful vaccines. Now corporate speculators, individual greedy investors, corrupt stockbrokers, are making you feel nothing has happened in their thirst for cheap wealth, world suffers 🇺🇸 mso
Source: CNBC - 🏆 12. / 72 Read more »
Stocks making the biggest moves midday: Eaton Vance, IBM, Domino's, Sunrun & moreTake a look at the companies making headlines in midday trading. $EV TaX rEfOrM Jim Cramer is clueless. firejimcramer
Source: CNBC - 🏆 12. / 72 Read more »
Stock market live updates: Stocks rise, Pelosi knocks idea of smaller aid package, IBM risesThis is CNBC's markets live blog that will be updated throughout the day. then why do stocks rise for no reason? what a bubble This is the reason. SHAMELESS
Source: CNBC - 🏆 12. / 72 Read more »