New Delhi, Oct. 9 -- IBM on Thursday said it would spin off a unit that manages clients' IT infrastructure and accounts. The newly made company, named NewCo will have nearly a quarter of its sales and staff. The new IBM will concentrate on cloud computing and artificial intelligence. It will help its customers modernize tech infrastructure such as private data centres.

"Now is the right time to create two market-leading companies focused on what they do best," says IBM CEO Arvind Krishna. "IBM will focus on its open hybrid cloud platform and AI capabilities. NewCo will have greater ability to design, run and modernize the infrastructure of the world's most important organizations. Both companies will be on an improved growth trajectory w...