Business
IBM to break up 109-year old company to focus on cloud growth – Sydney Morning Herald
IBM 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 busines…
Investors cheered the surprise move by chief executive officer Arvind Krishna, the key architect behind IBM’s $US34 billion acquisition of cloud company Red Hat last year, sending the company’s shares up 7 per cent.
“We divested networking back in the ’90s, we divested PCs back in the 2000s, we divested semiconductors about five years ago because all of them didn’t necessarily play into the integrated value proposition,” Krishna said on a call with analysts.
Big blue’s new focus
In a blog, Kr…
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