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November 11, 1993

IBM CONSIDERS SELLING ITS FEDERAL SYSTEMS COMPANY

By CBR Staff Writer

With cost-cutting the order of the day in government all around the world, business with the state is not the pot of gold it used to be, and IBM Corp yesterday confirmed reports that it is considering selling all or part of what is now known as the IBM Federal Systems Co. It says it has been contacted by a number of interested parties regarding a potential sale of all or part of the business, and is evaluating the inquiries, while emphasising that it has not yet reached a decision. The business bids to offer information technology products and services, including complex systems integration projects and aerospace systems, primarily to the US Department of Defense and other federal agencies. The Bethesda, Maryland business had turnover of $2,200m and net profit of $71m after charges. It employs 11,400. The Washington Post reckons the unit could fetch $750m to $1,000m.

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