Jakarta – International Business Machines (IBM) will sell its software assets worth US $ 1.8 billion or around Rp.26 trillion to an Indian company, HCL Technologies Ltd.
IBM will release seven market-focused products, such as security devices, marketing automation products, and work collaboration product connections.
“The products we acquired are in the area of a growing market, which is a strategic segment for HCL,” said C Vijayakumar, CEO of HCL, as quoted by Reuters on Friday (12/07/2018).
The HCL software service business experienced a significant increase during 2018. It rose by around 21% to US $ 1.2 billion or around Rp.17 trillion. Meanwhile, IBM software has reportedly slowed in recent years and has weighed on quarterly revenue.
“Now is the right time to release the assets of marketing, collaboration and commerce,” said John Kelly, IBM’s Senior Vice President, as quoted by Bloomberg.
At present, IBM is focusing on cloud computing services to become the main market player with Amazon and Microsoft. As an effort to make it happen, IBM is in the process of acquiring As software company focused on the cloud, Red Hat Inc. worth US $ 33 billion.