International Business Machines / IBM
About International Business Machines
New Orchard Rd., Armonk, N.Y. 10504
www.ibm.com
| 914-499-1900
| Founded: 1911
Industry: Information Technology | Category: Major Employers Not Based in the Region
IBM completed 13 acquisitions last year that cost a total $4.82 billion, paid in cash. The acquisitions were mostly software and business-services companies.
IBM, citing competitive pressures, began the year by announcing that it would freeze the pension plans of 120,000 employees in the United States and offer an improved 401(k) plan. In March, IBM said it would roll out an aggressive strategy to lure business customers from Microsoft, offering bounties of up to $20,000 to salespeople who could persuade companies to make the switch. The move was aimed at securing more of the $2.5 billion market for corporate e-mail systems and servers in which the two firms compete.
In June, IBM said it was nearly tripling its investment in India, raising its stake from nearly $2 billion over the past three years to almost $6 billion in the next three. India is IBM's second-largest employment base, after the United States.
2006 Financial Data
Total employees: 355,000 | Local employees: 7,600Did You Know
International Business Machines Corp. is one of the nation's largest technology companies. IBM continues to move away from its personal-computer past; 2006 was its first year without any PC revenue. Growth has mostly been in software and consulting services. IBM consults for thousands of businesses and government groups, and its technology is used in the aerospace, auto, travel, telecommunications and retail industries.
