Business Services Industry
IBM Set to Spin Off Home Networking Division.
Knight Ridder/Tribune Business News, December, 1999 by Dyrness, Christina
Knight Ridder/Tribune Business News
Dec. 10 -- RESEARCH TRIANGLE PARK, N.C. -- IBM confirmed Thursday that it will spin off its home networking product, called Home Director, into a new company.
Employees who work with Home Director at IBM -- about 60 of them, most based in the Triangle -- were told this week that they could either take jobs with the new company or see their positions eliminated.
Trink Guarino, an IBM spokeswoman, said details on the company -- such as where it will be based and whether it will be publicly traded -- were still being worked out and that IBM would officially announce the new venture early next year. Whatever happens, IBM will keep an ownership stake in Home Director.
Mary Walker, IBM general manager in...
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