In a bid to focus on new technologies, IT giant IBM recently closed a deal to sell off its marketing and commerce business units.
IBM is offloading its marketing and commerce solutions to New York-based private equity firm, Centerbridge Partners. Their partnership will establish an as-yet unnamed spinoff company, and continue to work with IBM Business to develop and sell “standalone” products that automate marketing and advertising tasks. These products will include marketing automation tools, customer experience analytics, personalized search engines and an AI-enabled content management system.
This isn’t the first time IBM has dispensed with business units that no longer align with their transitioning business model; last December, IBM sold off IBM Websphere Commerce and a slew of other automated marketing and cybersecurity solutions to HCL Technologies of India for $1.8 billion. IBM’s new strategy is to focus on investing in emergent technologies like AI, blockchain and cloud.
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