Today IBM announced its intention to spin off the Managed Infrastructure Services unit of its Global Technology Services division into a new public company (“NewCo”), creating two industry-leading companies.

NewCo will be the #1 managed infrastructure services company, entirely focused on next-generation managed infrastructure services and service delivery excellence.

IBM will be the #1 hybrid cloud platform and AI company with $59B in revenue, bolstered by the acquisition of Red Hat. IBM will deliver significant value while accelerating the business transformation toward cognitive enterprise with a comprehensive suite of services.

You can learn more about their announcement here

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