IBM partners with Brazil billionaire Batista's EBX

Apr 05, 2012

IBM will purchase 20 percent of SIX Automacao, an EBX company focused on technology — 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 technology companies 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 investment fund 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: Best Buy reports 1Q loss on restructuring costs

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 briefly tops Microsoft in market value

May 21, 2011

IBM briefly topped Microsoft in market value on Wall Street on Friday to become the second-largest technology company after Apple.

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 ...

IBM completes acquisition of Storwize

Aug 30, 2010

US computer giant IBM said Monday it has completed its acquisition of data storage company Storwize.

Recommended for you

Sony mulls hedge fund's entertainment sale idea

1 hour ago

Sony's CEO Kazuo Hirai says the electronics giant's board will discuss a proposal by U.S. hedge fund manager Daniel Loeb to spin off up to 20 percent of its movie, TV and music division.

Apple case seen as possible spur to tax action

2 hours ago

Now that tech favorite Apple Inc. has been dragged front and center into the debate over the U.S. tax code, lawmakers are hoping that the spotlight on such a high-profile company could be the catalyst for ...

Amazon plans greenhouse-style headquarters

13 hours ago

US online giant Amazon has unveiled plans for a futuristic greenhouse style headquarters "where employees can work and socialize in a more natural, park-like setting."

Best Buy reports 1Q loss on restructuring costs

16 hours ago

(AP)—Best Buy Co. on Tuesday reported a loss for its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores.

Apple's Cook faces Senate questions on taxes (Update)

16 hours ago

The Senate dragged Apple Inc., the world's most valuable company, into the debate over the U.S. tax code Tuesday, grilling CEO Tim Cook over allegations that its Irish subsidiaries help the company avoid ...

Ericsson closes down cable production, cuts jobs

19 hours ago

Wireless equipment maker Ericsson AB says it will close down its telecom cable manufacturing operation and cut around 350 jobs in Sweden.

User comments : 0

More news stories

Study finds the bulk of shoes' carbon footprint comes from manufacturing processes

A typical pair of running shoes generates 30 pounds of carbon dioxide emissions, equivalent to keeping a 100-watt light bulb on for one week, according to a new MIT-led lifecycle assessment. But what's surprising ...

Risky behaviour starts young on social media: survey

Australian children are accessing social media websites at an increasingly younger age, a new survey suggests, with one in five "tweens" admitting they have chatted to someone online they do not know.

Enhanced solar power by dry-cooled energy generation

A cutting edge system is being developed to deploy more solar-based energy plants, enabling the delivery of cleaner power more efficiently, while keeping Europe at the leading edge of energy technologies.

French-Asian firms reveal LNG contract in Canada

A consortium comprising French, South Korean and Chinese companies has won a contract for a liquefied natural gas project in Canada, the French partner Technip said on Wednesday.

Solar plane set for new leg of cross-country US trip

The first-ever manned airplane that can fly by day or night on solar power alone was set to soar early Wednesday on the second leg of its journey across the United States.

Coral reefs 'ruled by earthquakes and volcanoes'

(Phys.org) —Titanic forces in the Earth's crust explain why the abundance and richness of corals varies dramatically across the vast expanse of the Indian and Pacific Oceans, a world-first study from the ...

Unexpected effects of ocean acidification on deep-sea organisms

About 55.5 million years ago, geologically rapid emission of a large volume of greenhouse gases at the Paleocene-Eocene boundary (PETM) led to global warming of about 5oC, severe ocean acidification, and ...

Coccoliths thrive despite ocean acidification

Ocean acidification is damaging some marine species while others thrive, say scientists. An international team studied the effect of ocean acidification on plankton in the North Sea over the past forty years, ...

Optical computing could benefit from recent development of novel electromagnetic wave

An unusual wave that does not spread out as it travels could become a key component in speedy computer chips that use beams of light to carry and process data. Jiao Lin, a physicist at the A*STAR Singapore ...

Italy approves law on controversial stem cell therapy

Italian lawmakers on Wednesday gave their final approval to a law that allows limited use of a controversial type of stem cell therapy which has been condemned by many scientists but has given hope to families of terminally-ill ...