IBM to sell some of its software products to HCL for $1.8 billion

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© Reuters. The IBM logo is pictured during the Viva Tech start-up and technology summit in Paris© Reuters. The IBM logo is pictured during the Viva Tech start-up and technology summit in Paris

(Reuters) – International Business Machines Corp (N:) said on Thursday it will sell some of its software products business to HCL Technologies (NS:) for $1.80 billion.

The software products in scope represent a total addressable market of more than $50 billion, IBM said in a statement.

The transaction http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u= is expected to close by mid-2019.

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