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February 14, 1988

IBM SELLS REALCOM TO CONTEL

By CBR Staff Writer

IBM Corp has been scouting for so many new business areas to enter in the past few years that there has been an unaccustomed flurry of divestitures of the ones that didn’t work out Satellite Business Systems to MCI, the US retail computer chain to Nynex were the biggest. Now IBM seems to have thought better of its entry into the shared tenant services business, and has agreed to sell its Realcom Communications Corp in McLean, Virginia to Contel Corp’s Contel Tenant Services unit in St Louis, Missouri for an undisclosed sum in cash. IBM says that RealCom is well placed but would be better off as part of a more closely related business.

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