IBM to spin-off infrastructure services business into new company

IBM has announced plans to spin out its Managed Infrastructure Services unit into a new public company as it accelerates its shift to hybrid cloud. The seperation is expected to close at the end of 2021, and will be achieved through a tax-free spin-off of the business unit into a seperate public company. The unit, which falls into IBM's $27.36bn Global Technology Services division, will become the world's largest managed infrastructure services provider working with 4,600 clients across...