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MarketScreener Homepage  >  Equities  >  Nyse  >  International Business Machines Corporation    IBM

INTERNATIONAL BUSINESS MACHINES CORPORATION

(IBM)
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International Business Machines : IBM to Spin Off Managed Infrastructure Services Unit Into New Public Company

10/08/2020 | 07:07am EST

By Dave Sebastian

International Business Machines Corp. said it will spin off its managed infrastructure services unit, currently part of its global technology services division, into a new public company, as part of its hybrid cloud strategy.

Shares rose 3.2% in premarket trading.

The new company, which IBM will name at a later date, will offer hosting and network services, services management, infrastructure mode and migration and management of multi-cloud environments, IBM said Thursday.

IBM said the separation, expected to be tax-free to shareholders, would simplify its operations. The two entities are expected to initially pay a combined quarterly dividend of at least IBM's per-share dividend before the spin off, IBM said. The transaction is expected to close by the end of 2021.

The managed infrastructure services unit has relationships with 4,600 clients in 115 countries, operating in what IBM sees as a $500 billion market opportunity. The spun off unit will focus on artificial intelligence and automation, helping enterprises make their infrastructures more efficient, IBM said. IBM said the new company will be able to partner across all cloud vendors and add investment, meaning more opportunity for profit growth and cash generation.

The company Thursday also posted preliminary third-quarter earnings from continuing operations of $1.89 a share, or $2.58 a share on an adjusted basis, on revenue of $17.6 billion.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

10-08-20 0706ET

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Financials (USD)
Sales 2020 73 927 M - -
Net income 2020 5 417 M - -
Net Debt 2020 50 627 M - -
P/E ratio 2020 20,7x
Yield 2020 5,21%
Capitalization 111 B 111 B -
EV / Sales 2020 2,19x
EV / Sales 2021 2,13x
Nbr of Employees 352 600
Free-Float 39,7%
Chart INTERNATIONAL BUSINESS MACHINES CORPORATION
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International Business Machines Corporation Technical Analysis Chart | IBM | US4592001014 | MarketScreener
Technical analysis trends INTERNATIONAL BUSINESS MACHINES CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 137,50 $
Last Close Price 124,62 $
Spread / Highest target 28,4%
Spread / Average Target 10,3%
Spread / Lowest Target -6,11%
EPS Revisions
Managers
NameTitle
Arvind Krishna Chief Executive Officer & Director
James M. Whitehurst President, Head-Strategy, Cloud & Cognitive
Virginia M. Rometty Executive Chairman
James J. Kavanaugh Chief Financial Officer & Senior Vice President
Juan Antonio Zufiria Senior VP-IBM Global Technology Services
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