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IBM has announced its debut into the esports arena through a multi-year deal inked with the Overwatch League. 

Esports is roughly described as competitive videogaming, team-based play, and digital tournaments. The industry goes far beyond a casual, friendly gaming session between friends, however, as professional teams have now formed to face other groups worldwide. 

Interest in the industry continues to grow, perhaps propelled further by the travel and social restrictions imposed by COVID-19. In August, for example, Singapore set up a new, official trade body dedicated to driving forward a “sustainable” esports ecosystem in the country. 

See also: Singapore looks to power esports gameplay with new trade body

As esports competitions and entertainment sessions are able to be conducted remotely with the help of cloud technologies, high-speed broadband, and analytics, technology giants appear to be keen to establish a presence in the emerging space. 

On Friday, IBM announced the new

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IBM shares soared after the company announced plans to spin off its IT infrastructure unit to focus on its cloud computing business.

But even with Thursday’s surge, the stock still trades at a valuation far below its peers. IBM’s 11 times forward price-to-earnings ratio is cheaper than the XLK tech ETF’s 25 times multiple and the SKYY cloud ETF’s 35 times multiple.

This could be the beginning of a major transformative period for the company, Tocqueville Asset Management portfolio manager John Petrides told CNBC’s “Trading Nation” on Thursday. He compared new IBM CEO Arvind Krishna to Microsoft CEO Satya Nadella’s leadership.

Nadella, Microsoft’s chief executive officer since 2014, has overseen the company’s own shift to cloud services. Revenue in Microsoft’s cloud business increased 17% to $13.4 billion in its fourth quarter ended June, accounting for more than one-third of overall sales. IBM’s cloud business generates 30% of total revenue.

“What

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(Reuters) – International Business Machines Corp IBM.N is splitting itself into two public companies, capping a years-long effort by the world’s first big computing firm to diversify away from its legacy businesses to focus on high-margin cloud computing.

IBM will list its IT infrastructure services unit, which provides technical support for 4,600 clients in 115 countries and has a backlog of $60 billion, as a separate company with a new name by the end of 2021.

The new company will have 90,000 employees and its leadership structure will be decided in a few months, Chief Financial Officer James Kavanaugh told Reuters.

IBM, which currently has more than 352,000 workers, said it expects to record nearly $5 billion in expenses related to the separation and operational changes.

Investors cheered the surprise move by Chief Executive Officer Arvind Krishna, the key architect behind IBM’s $34 billion acquisition of cloud company Red Hat

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Janice Lourie and patent attorney Charles Boberg at IBM in 1970. Below them is a monitor displaying a pattern she created with her software.
Janice Lourie and patent attorney Charles Boberg at IBM in 1970. Below them is a monitor displaying a pattern she created with her software.Courtesy of IBM

Back in 1954, Lourie was a technical editor, playing clarinet in a Boston-area ensemble, when the pianist, an MIT chemist, hired her to process data on punch paper tape.

“It was a pretty rote job,” said Lourie, now 90, over Zoom from her home in Arlington, Vt. The chemist published a paper on the project, and in a footnote mentioned Lourie as a contributor.

“It felt wonderful,” she said. She was off and running.

She speaks humbly about her work in computers, as if her path unfolded purely by luck and circumstance. In 1957, IBM hired her, and she moved to New York, where she devised a program implementing a new computer language, LISP, developed by John McCarthy at MIT. The research helped

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