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    Home » IBM to spin off $19B business to focus on cloud computing

    IBM to spin off $19B business to focus on cloud computing

    By SHOOTThursday, October 8, 2020Updated:Tuesday, May 14, 2024No Comments1067 Views
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    ARMONK, NY (AP) --

    IBM says it is breaking off a $19 billion chunk of its business to focus on cloud computing.

    The 109-year-old tech company said Thursday it is spinning off its managed infrastructure services unit into a new public company, temporarily named NewCo. The separation is expected to take effect by late 2021.

    IBM CEO Arvind Krishna said the split will help IBM focus on its cloud platform and artificial intelligence, while the newly formed company will provide services to manage the infrastructure of businesses and other organizations. 

    IBM's annual revenue was $77.1 billion last year. Krishna said in April at his first quarterly earnings call as CEO that the company will continue to eliminate software and services that don't align with IBM's top two focus areas for growth: cloud computing and artificial intelligence.

    Once a household name for its personal computers, IBM shed its PC business in 2005 and has since become focused on supplying software services to big businesses, governments and other organizations. It has worked to strengthen its cloud computing business but has struggled to compete with top cloud rivals Amazon, Microsoft and Google.
     

     

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    Tags:Arvind Krishnacloud computingIBM



    Jackie Brenneman Named Next President & CEO Of The Independent Film & Television Alliance

    Wednesday, January 14, 2026

    The Independent Film & Television Alliance® (IFTA®)--the global trade association representing the independent film and television industry, which also serves as producer of the American Film Market® (AFM®)--has appointed Jackie Brenneman as its next president and CEO. She succeeds Jean Prewitt, who is stepping down at the end of the month after 25 years leading the organization.

    Brenneman joins IFTA with a career spanning organizational leadership, government relations, legal practice, and nonprofit oversight. She spent nearly a decade at NATO, rising through the organization to executive VP and general counsel, where she served as a strategic leader for the exhibition community and the organization’s membership during periods of significant change and disruption. Her work encompassed competition and regulatory matters--including exhibition industry response to the termination of the Paramount Consent Decrees—advocacy on copyright and trade policy, revenue and partnership development, as well as event management. She led NATO’s industry relief efforts during the COVID-19 pandemic, including its “Save Our Screens” initiative, and was president of The Cinema Foundation, the organization’s nonprofit arm dedicated to advancing the cultural and economic impact of theatrical exhibition.

    Most recently, Brenneman served as CEO of Attend, a first-of-its-kind theatrical marketplace connecting independent filmmakers directly with exhibitors to expand distribution opportunities, and as a founding partner of The Fithian Group. Earlier in her career, she practiced as a trademark and copyright attorney at Foley & Lardner LLP.

    “Jackie brings industry insight, legal and lobbying expertise, and a proven record of guiding complex... Read More

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