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IBM to pump $3 billion into new IoT business unit

Written by Cio
ibm
  • Cio
  • 2 years ago

ibm

Hungry for a bigger piece of the Internet of things market, IBM will invest US$3 billion over four years to establish a new business unit dedicated to providing IoT systems and services to enterprises.

“We’re only at the very beginning of an amazing revolution. If we thought we were dealing with big data now, we haven’t seen anything yet,” said Erick Brethenoux, IBM director of analytics.

IBM General Manager Chris O’Connor will oversee the new unit, which will initially court enterprises in travel, logistics, insurance, public utilities, transportation and retail, Brethenoux said.

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