Business • Economy

IBM will split into two public companies

In order to focus on new high-margin businesses, such as cloud services and AI, IBM will split into two public companies. The company's legacy IT infrastructure work will be handled by a new spin-off company.

The split is expected to be completed by the end of 2021 and following IBM's projections the new spin-off company will be the world's "leading managed infrastructure service provider" with around 90,000 employees, while the remaining of the 352,000 current employees will stay with the main company.

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Card reviewed by: @ericof