EBX, IBM close to inking strategic partnership

Thursday, November 24, 2011

EBX Group, the holding company of Brazil's richest man Eike Batista, and IBM (NYSE: IBM) are negotiating a partnership agreement, the latter said in a statement.

According to IBM, the partnership is aimed at a broad range of initiatives focused in particular on the natural resources and infrastructure segments, in order to support both companies' growth strategies.

The companies are still undergoing talks and defining the terms of the partnership. A definitive agreement is expected to be reached as soon as negotiations and due diligence are completed, and after approval is received from both boards.

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Among the possible areas of cooperation between the companies, IBM cites the implementation of tailored solutions for the industry; the joint development of R&D related to intellectual property; business opportunities through EBX's industrial automation branch SIX Automação; as well as infrastructure and IT services to the EBX Group.

"By seeking this partnership with IBM, the EBX Group takes another important step in its relentless pursuit of efficiency and competitiveness, using state of the art technology and innovative solutions for its business," said Batista, who is EBX president.

"This partnership demonstrates IBM's commitment to Brazil and to our agenda of intelligent solutions. It will help us to add value and innovation to our companies, contributing to economic growth and development of industries," said IBM Brasil's president Ricardo Pelegrini.