(Bloomberg) — International Business Machines Corp. plans to spin off its managed infrastructure services unit into a public company, doubling down on its shift to become a major cloud services provider.The new unit, now part of its global technology services division, serves 4,600 clients and has an order backlog of $60 billion, according to a statement Thursday. The company said it aims to complete the transaction as a tax-free spinoff to IBM shareholders by the end of 2021.The spin-off is the fourth major transformation for IBM in its 109-year history and is the first big move by Chief Executive Officer …read more
Source:: Yahoo Finance
