IBM (IBM) announced that the company will spin off some of its lower-margin businesses and split in two by the end of 2021. According to the press release, the unnamed NewCo "will focus on its open hybrid cloud platform, which represents a $1 trillion market opportunity," while NewCo "will immediately be the world’s leading managed infrastructure services provider."
NewCo will start off as a "world leader" because it will inherit IBM Global Technology Services' existing managed infrastructure clients. This comes with about 4,600 accounts, including most of the Fortune 100.
In practice, this is just a financial engineering exercise, but it is also the logical conclusion of a years-long internal struggle to bring some focus to IBM's all-over-the-place business model. I'm excited for Big Blue. It's a great company with great leadership, and the re-engineered structure looks very promising.
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