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: Disney merges consumer product, interactive divisions

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

Microsoft sheds some of its ad business, mapping service

8 hours ago

Microsoft is handing off some its digital advertising business to AOL and selling its street-image mapping operation to Uber, as the giant software company tries to focus on activities more relevant to its core business.

Disney merges consumer product, interactive divisions

19 hours ago

Disney is merging its consumer product and interactive divisions, a move that acknowledges the shared goals of important product lines like the Disney Infinity video game franchise and the upcoming line of wearable toys called ...

Justices won't hear Google appeal in dispute with Oracle

Jun 29, 2015

The Supreme Court is staying out of a long-running legal battle between technology giants Oracle and Google over copyright protection for a computer program that powers most of the world's smartphones and computer tablets.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.