IBM (IBM) To Spin-Off Managed Infrastructure Services Unit

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Go back to IBM (IBM) To Spin-Off Managed Infrastructure Services Unit

IBM To Accelerate Hybrid Cloud Growth Strategy And Execute Spin-Off Of Market-Leading Managed Infrastructure Services Unit

October 8, 2020 6:30 AM EDT

ARMONK, N.Y., Oct. 8, 2020 /PRNewswire/ -- IBM (NYSE: IBM) announced today it will accelerate its hybrid cloud growth strategy to drive digital transformations for its clients. Additionally, IBM will separate its Managed Infrastructure Services unit of its Global Technology Services division into a new public company ("NewCo"). This creates two industry-leading companies, each with strategic focus and flexibility to drive client and shareholder value.

The separation is expected to be achieved as a tax-free spin-off to IBM shareholders, and completed by the end of 2021.

"IBM is laser-focused on the $1 trillion... More