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5 Big Things To Know About IBM’s Spin-Off: A ‘Landmark Day’

The main reason for the breakup is to field two independent entities squarely focused on two unique and massive market opportunities. That’s an approach IBM expects to put both companies on a faster growth trajectory.

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On what IBM CEO Arvind Krishna described as “a landmark day for our company,” Big Blue revealed plans for the largest spin-off in its history—one that will create a new channel giant.

“We are redefining the future of IBM and where we will put our focus moving forward,” Krishna told investors Thursday morning during a strategic update call in which he was joined by his CFO, Jim Kavanaugh.

IBM will spin off the bulk of IBM Global Technology Services into a new, publicly traded, investment-grade company currently dubbed NewCo, Krishna said, promising “we will get a name eventually.”

By the time the deal closes by the end of next year, NewCo will be the world’s largest managed infrastructure services provider, born with $19 billion in revenue and a $60 billion backlog.

NewCo is “already a market leader in scale and capability,” Krishna said.

And IBM will be a transformed company, for the first time in its recent history more focused on innovation than on consulting.

Here’s what you need to know about NewCo and the new Big Blue.

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