IBM sells out...
Today brought two acts of sale conducted by IBM at once. First, the corporation sold its office building in New York, where it has resided since the beginning of the last century, and second Mylex subsidiary of LSI Logic.
IBM promised its staff to keep all 4000 work places after the sale of the second office in New York. At that the half of the staff remains in IBM and the second moves to the same positions to Endicott Interconnect Technologies Corporation after IBM becomes its client.
As the result of the first sale IBM shares dropped by $4.40 or 6.1 to $67.60 by the time of bids closure at the New York Stock Market.
Speaking of LSI Logic´s Mylex subsidiary sale, according to the contract with IBM, the company receives RAID controller, subsystem, component and software group. By the way, according to the agreement with IBM, LSI Logic gets access to Mylex channels, whose clients are IBM, NEC, Fujitsu-Siemens, Xyratex, and Eurologic.
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