IBM Quitting Computer Business
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An era will come to an end when IBM sells off its computer manufacturing business, according to The New York Times. A Chinese company seems the likely buyer and the deal should fetch upward of $2 billion.
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JP Morgan Chase &amp; Co. (JPM.N: Quote, Profile, Research) , said on Wednesday it was scrapping a $5 billion outsourcing deal with IBM Corp.
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, 12/8/2004. IBM&#39;s awaited personal computing division sale to Lenovo Group Ltd. became official this morning with an announcement that Big Blue will pass the unit to China&#39;s number one PC maker for $1.75 billion.
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JP Morgan Chase is cancelling a $5bn IT outsourcing deal with IBM and bringing the service back in-house. IBM will hand over the running of the investment bank&#39;s data centres, help desks, distributed computing, data and voice networks from January 2005.
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Silicon Graphics to stop selling computers using MIPS chips and Irix operating system at end of 2006.
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NEW YORK - We may soon add IBM to the long, long list of companies exiting the thankless business of selling personal computers. According to a report in The New York Times, IBM (nyse: IBM - news - people
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Following days of rumors, IBM late Tuesday made it official: the company said it was spinning off its personal computer business with the Lenovo Group, China&#39;s biggest maker of personal computers.
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IBM, the pioneer of the personal computer, is selling its PC hardware business to Chinese firm Lenovo.
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IBM Corp. lost one of its highest-profile outsourced-IT clients on Wednesday, as JPMorgan Chase & Co. said it is canceling the remaining portion of a contract that was intended as a seven-year, $5 billion deal.
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This week, IBM said it is selling off most of its PC division to Lenovo, China&#39;s No. 1 PC maker. The news is likely to rattle IBM customers - but it may end up benefiting them long term.
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InfoWorld - IBM sold off a chunk of its stake in Lenovo Group, leading the world&#39;s third-largest PC vendor to temporarily suspend trading of its shares in Hong Kong on Tuesday.
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San Francisco, December 4: IBM is reportedly in talks to sell its personal computer business in a deal that could be worth up to $2 billion and would cap a gradual withdrawal from the business it helped to pioneer in 1981.
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IBM is selling its PC-making business to China's largest personal computer company, Lenovo Group Ltd., for &#36;1.25 billion, marking the U.S. company's retreat from an industry it helped pioneer in 1981.
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Stepping up an overhaul of its big technology services business, high-tech conglomerate IBM Corp. yesterday notified 1,570 employees worldwide that their jobs are being eliminated.
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IBM, whose first PC in 1981 moved personal computing out of the hobby shop and into the corporate and consumer mainstream, has put the business up for sale, people close to the negotiations said Thursday.
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IBM&#39;s possible exit from the personal-computer business would be the latest move in what amounts to a long goodbye from a field it pioneered and revolutionized.
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JP Morgan Chase (JPM:NYSE - news - research) and IBM (IBM:NYSE - news - research) are getting a divorce, ending a $5 billion computer outsourcing deal just two years after it began.