IBM CEO Arvind Krishna said the split will help IBM focus on its cloud platform and artificial intelligence, while the new public company will provide services to manage the infrastructure of businesses and other organizations.
The spinoff company, Red Technologies, is built around proprietary software that Spot launched in 2015 to help connect shippers, trucking companies and drivers for the purpose of freight brokering.
The goal is to inspire creativity and entrepreneurship among employees who have ideas for products and services that can complement the larger company.
The spinoff, called Sexton Biotechnologies, has raised $5 million in outside investment and will spin off in October. The biotech develops cell and gene therapy tools used to grow cells for medical purposes.
Comcast, the nation’s largest cable company, is looking to expand with its proposed $45 billion acquisition of Time Warner Cable. But customers in central Indiana won’t come along for the ride. To ease antitrust concerns, Comcast plans to hand 2.5 million customers to a new spinoff called GreatLand Connections.
Just call 2014 the year of the corporate spinoff frenzy. And 2015 might be just as crazy.
One of the largest independent survivors of the subprime debacle is staking its future on a real estate appraisal business based in Indianapolis.
A growing number of companies strapped for cash and struggling to pay their bills on time is presenting an unusual opportunity
for Vontoo Inc., a local IT firm.
Charlie & Barney’s is quietly expanding into unorthodox niches, placing its product in unusual places — like convenience