IBM Buys 20% of Batista’s SIX Unit, Gets $1 Billion Contract
This article is for subscribers only.
International Business Machines Corp., the world’s largest computer-services provider, bought a 20 percent stake in the technology unit of Brazilian billionaire Eike Batista as it expands to emerging markets.
IBM, as the Armonk, New York-based company is known, and Batista’s SIX Automacao unit will set up a technology center to serve customers in Brazil, Chile, Colombia and Peru, EBX Group Co., the holding company for most of Batista’s assets, said today in an e-mailed statement. IBM was also awarded a $1 billion contract to provide technology services to EBX for 10 years, it said.