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BREAKING NEWS

IBM to sell some of its software products to HCL for $1.8 billion

IBM to sell some of its software products to HCL for $1.8 billion
The logo for IBM is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 27, 2018. REUTERS/Brendan McDermid -
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BRENDAN MCDERMID(Reuters)
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(Reuters) – International Business Machines Corp <IBM.N> said on Thursday it will sell some of its software products business to HCL Technologies <HCLT.NS> for $1.80 billion.

The software products in scope represent a total addressable market of more than $50 billion, IBM said in a statement.

The transaction http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20181206:nCNWFQtz6a is expected to close by mid-2019.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by Shailesh Kuber)

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