<article>International Business Machines Corp said on Thursday it will sell some of its software products business to Indian software services exporter HCL Technologies for $1.80 billion.
The software products in scope represent a total addressable market of more than $50 billion, IBM said in a statement.</article>

International Business Machines Corp said on Thursday it will sell some of its software products business to Indian software services exporter HCL Technologies for $1.80 billion.
The software products in scope represent a total addressable market of more than $50 billion, IBM said in a statement.
The company will divest seven of its products, including its secure device management product BigFix, marketing automation product Unica and workstream collaboration product Connections.
&#8220;The products that we are acquiring are in large growing market areas like security, marketing and commerce which are strategic segments for HCL,&#8221; said C Vijayakumar, Chief Executive Officer of HCL.
The transaction is expected to close by mid-2019.
IBM&#8216;s software sales, which have slowed down in the past, also weighed on its latest quarterly revenue.
HCL&#8217;s revenue from software services business, however, rose about 21 percent to 87.11 billion rupees, leading the company to beat its second-quarter profit.
IBM is also in the process of buying U.S. software company Red Hat Inc for $34 billion, including debt.
Reuters

IBM to sell some of its software products to HCL for $1.8b

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