IBM will split into 2 public companies to focus on cloud growth

International Business Machines (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 businesses to focus on high-margin cloud computing. IBM will list its IT infrastructure services unit, which provides technical support for 4,600 clients in 115 countries and has a backlog of $60 billion, as a separate company with a new name by the end of 2021.

The new company will have 90,000 employees, and its leadership structure will be decided in a few months, CFO James Kavanaugh told Reuters.

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