A Brazilian industrial conglomerate says it has outsourced its
information technology operations to IBM Corp. for $1 billion, which
will be paid over 10 years.
The EBX Group is owned by Eike Batista, Brazil's wealthiest man. Its
subsidiaries include a mining company, an oil and gas provider and the
technology provider SIX Automacao.
As part of the agreement, IBM will acquire a 20 percent stake in SIX Automacao.
The statement quotes Batista as saying the agreement with IBM "offers
EBX Group a broad portfolio of modern IT solutions. IBM, in turn, will
expand its presence in one of the most promising markets in the
world."
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