Germany’s T-Systems to sell mainframe unit to U.S. IBM for $986.5 mln

01/14/2019 12:44:00 PM (GMT)

U.S.-based information technology (IT) company International Business Machines Corp. (IBM) plans to acquire mainframe service business unit owned by German IT services and consulting business T-Systems.

Under the terms of the deal, IBM aims to pay 860 million euros ($986.5 million) for the mainframe business.

Following the closure of the deal, T-Systems, a unit of telecommunications company Deutsche Telekom, will continue to offer mainframe services with IBM in the future.

The transaction is still subject to approval by antitrust authorities.

International Business Machines Corporation

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