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Article: United States : IBM Sells Unit, Expands Buyback.
- Article from:
- TendersInfo
- Article date:
- October 28, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mamta03
Dassault Systemes SA agreed to pay $600 million to buy an International Business Machines Corp. unit that sells Dassault's design software.
The sale to Dassault, which makes software for computer-aided design and product management, removes one of the last vestiges of IBM's once vast applications-software business. The two companies will retain a formal alliance in which the French company will recommend IBM services and infrastructure software.
ibm1027 Bloomberg News
Separately, IBM's board expanded its stock buyback program, authorizing the spending of another $5 billion. It currently has $4.2 billion remaining from ...