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Technology Stocks : Newbridge Networks -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (6325)	9/2/1998 3:07:00 PM
From: pat mudge	Read Replies (1) \| Respond to of 18016

IBM headlines: newsalert.com Could bode well for NN. Pat

To: Ian@SI who wrote (6325)	9/2/1998 3:35:00 PM
From: pat mudge	Read Replies (1) \| Respond to of 18016

Help me understand what's going on. IBM's selling its Global Network unit, and outsourcing its Global Services unit? Dow Jones Newswires -- September 2, 1998 Cable & Wireless, IBM In $3 Bln Strategic Pact Dow Jones Newswires LONDON -- Cable & Wireless Communications PLC (CWZ) Wednesday signed a 10-year, $3 billion information technology deal with International Business Machines Corp. (IBM). The deal reflects growing convergence between between telecoms data and IT networks. CWC, through its Mercury Communications unit, is Britain's second biggest data carrier. CWC, a 54%-owned unit of U.K.'s Cable & Wireless PLC (CWP), said the agreement will see it transfer 1000 of its staff to IBM Global Services. IBM will add up to 400 new jobs. "This partnership brings significant benefits to us," said Graham Wallace, chief executive of Cable & Wireless Communications said. "It will enable us to deliver the IT systems necessary to provide high levels of business efficiency and customer service in a growing communications company. We will be able to do this much more quickly and effectively as a result of this partnership by harnessing the skills, experiences and global resources of IBM," he added.