International Business Machines Corp.

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Divestitures / Spin-offs, Other Pre-Announcement

IBM To Accelerate Hybrid Cloud Growth Strategy And Execute SpinOff Of MarketLeading Managed Infrastructure Services Unit

Published: 10/08/2020 10:50 GMT
International Business Machines Corp (IBM) - Ibm to Accelerate Hybrid Cloud Growth Strategy and Execute Spin-off of Market-leading Managed Infrastructure Services Unit.
Ibm - Separation is Expected to Be Achieved As a Tax-free Spin-off to Ibm Shareholders, and Completed by End of 2021.
Ibm - Ibm Will Separate Its Managed Infrastructure Services Unit of Its Global Technology Services Division Into a New Public Company.
Ibm - Separation is Expected to Be Achieved As a Tax-free Spin-off to Ibm Shareholders, and Completed by End of 2021.
Ibm - Expects to Report Q3 Revenue of $17.6 Billion.
Ibm Sees Q3 GAAP Diluted Earnings per Share From Continuing Operations of $1.89.
Ibm - New Company Will Be Entirely Focused on Managing and Modernizing Client-owned Infrastructures.
Ibm Sees Q3 Operating (non-GAAP) Earnings per Share of $2.58.
Ibm - Ibm to Focus on Hybrid Cloud Growth.
Ibm - Separation is Currently Expected to Be Completed by End of 2021.
Ibm - Following Completion of Separation, Each Company's Dividend Policy Will Be Determined by Its Respective Board of Directors.
Ibm - Following Separation, Cos Together Are Initially Expected to Pay Combined Quarterly Dividend No Less Than Ibm's Pre-spin Dividend per Share.
Ibm - One-time Transaction Costs Are Expected to Include Tax Charges, Operational Separation Activities, and Other Customary Items.
Ibm - 'ibm is Taking Action to Simplify and Optimize Its Operating Model for Speed and Growth'.