IBM will spin off managed infrastructure services to focus on hybrid cloud

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In an effort to accelerate its hybrid cloud growth strategy, IBM has announced that it will spin off the Managed Infrastructure Services unit of its Global Technology Services division into a new public company.

The new company has been given the placeholder name of NewCo and the separation is expected to be achieved as a tax-free spin-off to the company’s shareholders which will be completed by the end of 2021.

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