An insider from IBM has revealed that the tech giant is all set to sell its IBM Watson Healthcare Business. This move is expected to help the new CEO of IBM, Arvind Krishna, to focus more on important things like the fastest-growing cloud computing operations. According to the insider, the talks are in the early stage, and the company may or may not confirm the deal yet. According to the reports from Wall Street Journal, IBM is now actively looking for a new range of alternatives like merging with a blank check company or selling it to a private equity firm. For the past few years, IBM has been trying its best to boost its share of the revenue from the company’s hybrid-cloud services and solutions.
The user data can currently be stored on multiple cloud platforms like Azure from Microsoft and AWS from Amazon. Back in 2018, the big blue had purchased RedHat for a whopping $34 billion to boost this effort. To prove the company’s interest in cloud services, the CEO had announced last October that he would work towards creating a new spin-off brand for IBM’s managed infrastructure services. IBM was working with Watson to revolutionize healthcare services for cancer patients, but its goals weren’t met due to the company’s inability to meet the hype created by them. IBM has now decided to step back from this effort effectively.