IBM is making the unit a standalone public company and expects the separation to be completed by the end of 2021. (The Logic)
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IBM is making the unit a standalone public company and expects the separation to be completed by the end of 2021. (The Logic)
Talking point: IBM’s revenues fell in 29 of the last 33 quarters, partially due to the drag of the infrastructure unit. Investors welcomed the spinoff, sending IBM’s shares up 5.95 per cent at close. IBM plans to invest more in its own cloud business and also make acquisitions, like last year’s US$34-billion purchase of Red Hat. The spinoff is the first major move by CEO Arvind Krishna, who took the top job in April. Krishna predicted that the spinoff would push IBM back to mid-single-digit revenue growth.
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