IBM to spin off infrastructure services as new public company

📆 8/10/2020 9:45 a. m.
📰 Reuters

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International 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.

The company said it hopes to become more focused on cloud software and solutions through the separation.The separation of the new company is expected to be achieved as a tax-free spin-off to IBM shareholders and completed by the end of 2021, IBM said.

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