IBM Corp has got rid of another of its unwanted investments with the sale of Valisys Corp, Santa Clara, California to Tecnomatix Technologies Ltd, which is paying $2.3m in cash plus assumption of some liabilities for the company. Valisys was primarily owned by IBM, which took its stake in 1990 (CI No 1,341), and FMC Corp. Valisys will now streamline its operations and reduce its workforce by about 25% to about 30 staff. Valisys develops and supports software tools for the design, measurement and control of quality in manufacturing industries. For the nine months to September 30, it made a loss of $766,000 on turnover of $2.8m.
