AT&T Corp. will spend $5 billion US to buy IBM's data networking operation. The purchase will allow AT&T to provide high-speed data services and Internet access to its business customers.
Businesses use IBM's Global Network Business to link computers to networks, take orders from customers, and connect to the Internet. The operation has at least 30,000 business customers and one million Internet users.
When the deal closes, expected to be next summer, 5,000 IBM employees from the division will begin working for AT&T.
In another deal between the two companies, IBM will begin managing AT&T computers that manage long-distance services for businesses. Over 2,000 AT&T employees will go to work for IBM under the deal. The deal will pay IBM $5 billion over five years.
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Feb 10, 2012 7:43 PM ET
Feb 10, 2012 7:43 PM ET
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| Index | Last Trade | Change |
|---|---|---|
| TSX COMPOSITE | 12389.42 | 0 |
| DOW | 12801.23 | 0 |
| NASDAQ | 2903.88 | 0 |
| SP 500 | 1342.64 | 0 |
| NYSE COMPOSITE | 7992.05 | 0 |
| AMEX | 2417.98 | 0 |
| TSX-VENTURE | 1653.55 | 0 |
The data on this site is informational only and may be delayed; it is not intended as trading or investment advice and you should not rely on it as such.
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