IBM partners with Brazil billionaire Batista's EBX

Apr 05, 2012
US computer giant IBM has signed a deal to purchase 20 percent of a subsidiary of Brazilian billionaire Eike Batista's EBX group in exchange for a $1 billion contract, the companies announced.

US computer giant IBM has signed a deal to purchase 20 percent of a subsidiary of Brazilian billionaire Eike Batista's EBX group in exchange for a $1 billion contract, the companies announced.

"Partnering with one of the largest in the world offers EBX Group a broad portfolio of modern IT solutions," Batista said in a statement on Wednesday.

"IBM, in turn, will expand its presence in one of the most promising markets in the world, working with a group that has a significant presence in strategic sectors."

Under the deal IBM will purchase 20 percent of SIX Automacao, an EBX company focused on technology. EBX will in turn outsource its information technology operations to IBM for $1 billion over 10 years.

Last week Abu Dhabi's state Mubadala Development announced a $2 billion investment in EBX group, which includes OGX (oil and gas), OSX (offshore naval industry), MMX (mining), LLX (logistics) and MPX (energy).

Explore further: Alibaba surges in Wall Street debut

add to favorites email to friend print save as pdf

Related Stories

IBM to buy AT&T's Sterling unit for $1.4B

May 24, 2010

(AP) -- IBM Corp. said Monday that it is buying AT&T Inc.'s Sterling Commerce unit, which makes software that helps businesses buy and sell to each other, for $1.4 billion.

IBM cuts Sun takeover price: WSJ

Apr 02, 2009

IBM has cut the price of its takeover bid for Sun Microsystems Inc. to nine to 10 dollars a share from 10 to 11 dollars a share, The Wall Street Journal online reported on Thursday.

IBM buys Blade Network Technologies

Sep 27, 2010

US computer giant IBM said Monday it has acquired Blade Network Technologies, a California company that makes data switches for computer servers.

IBM's China-win claim irks HP

Nov 17, 2005

For IBM, winning its single-biggest contract in China is something to be immensely proud of, and they are understandably eager to publicize it widely, but rival Hewlett Packard is disputing Big Blue's claim that it seized ...

Recommended for you

Alibaba surges in Wall Street debut

3 hours ago

A buying frenzy sent Alibaba shares sharply higher Friday as the Chinese online giant made its historic Wall Street trading debut.

Alibaba makes Wall Street debut

7 hours ago

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

10 hours ago

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

13 hours ago

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0