IBM Corp (IBM.N) said it would hive off its loss-making semiconductor unit to contract-chipmaker Globalfoundries Inc to focus on cloud computing and big data analytics.
IBM will pay Globalfoundries $1.5 billion in cash over the next three years to take the chip operations off its hands, the companies said in a statement on Monday.
IBM took a related pre-tax charge of $4.7 billion in its third quarter. It also reported a 4 percent drop in revenue on Monday, hurt by weak sales in its software and services businesses.
IBM's shares fell 8 percent to $167 in premarket trading.
"They need to narrow their focus, get their A-game on, and any distractions from a core business perspective, such as this deal, need to be put in the rear-view mirror," FBR Capital Markets analyst Daniel Ives told Reuters.
International Business Machines Corp IBM.N reported a marked slowdown in business in September and abandoned its 2015 operating earnings target on Monday, as weak client spending and a slumping software sector weighed down quarterly revenue.
IBM shares fell nearly 7 percent to a three-year low, a blow for legendary investor Warren Buffett whose Berkshire Hathaway Inc BRKa.N is its top shareholder. The decline shaved more than $13 billion off of IBM's market cap, which stood at $182 billion at the stock market close on Friday.
“We are disappointed in our performance," said Ginni Rometty, IBM chairman, president and chief executive officer. "We saw a marked slowdown in September in client buying behavior, and our results also point to the unprecedented pace of change in our industry."
E continua a IBM a vender as "joias da coroa"! Depois de livrar-se de divisão de HD's, de PC's, servidores,, etc agora torna-se um empresa fabless ao despachar a divisão de semicondutores para a GF e até vai pagar para se vê livre do fardo!!!
Qualquer dia vai a falência, uma das maiores empresas do mundo de IT.
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