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IBM hedges its bets and invests in Great Wall computers

Posted by Jeremy Goldkorn on Monday, December 13, 2004 at 11:29 AM

Immediately after IBM's sale of its PC businesses to Lenovo in exchange for some cash and almost 20% of the Chinese computer behemoth, another Big Blue deal in China was announced this weekend. The new deal is the establishment of a joint venture with Great Wall to make and sell server harware.

The China Daily reports:

US information technology giant IBM formed a new joint venture [on Saturday] with the Chinese firm China Great Wall Computer Corp.

The new JV is the second co-operation deal in a week in the world's most populous market, further strengthening its influence on the IT industry in China and the world.

The new venture, announced in Beijing yesterday, is named the International Systems Technology Company (ISTC) and based in Shenzhen of South China's Guangdong Province.

IBM will own 80 per cent of stakes, and Great Wall will hold the remaining 20 per cent, the same proportion as in their previous JV for the International Information Technology Company (IIPC).

The China Daily story is here.

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