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To: Jacktoad who wrote (111249)	3/24/1999 9:26:00 AM
From: Jacktoad	Respond to of 176387

Sleeping with the enemy?: IBM, EMC form 5-year, $3 bln technology alliance March 24, 1999 06:06 AM ARMONK, N.Y., March 24 (Reuters) - Computer giant IBM Corp. IBM and EMC Corp. EMC , which supplies corporate data storage equipment, said on Wednesday they had formed a five-year strategic technology and business alliance valued at $3 billion. "Today, one of IBM's fiercest rivals in the storage systems business now becomes one of our best customers for advanced technology," Jim Vanderslice, senior vice president and group executive of IBM Technology Group, said in a statement. Under terms of the pact, EMC, based in Hopkinton, Massachusetts, will continue to buy advanced IBM disk drives to be incorporated into its Symmetrix Enterprise Storage systems. In the future, the agreement is likely to include other IBM technologies, such as microprocessors and advanced custom chips, the companies said. The alliance also provides for broad patent cross-licensing for storage and other technologies, and the two companies agreed to collaborate to develop business opportunities further. This move is the second result of an IBM initiative to pursue growth opportunities and focus additional attention on the original-equipment-manufacturer marketplace. Earlier this month, IBM formed a $16 billion technology pact with Dell Computer Corp. DELL in the largest supply deal the industry has seen. EMC's stock closed on Tuesday down $1.94 at $113.81 on the New York Stock Exchange, and IBM closed down $1.44 at $165.75. ((Reshma Kapadia, New York Newsdesk 212 859-1700)) REUTERS