A.P. Moller-Maersk sells IT unit to IBM

A.P. Moller-Maersk sells IT unit to IBM

   A.P. Moller-Maersk said Tuesday it has entered into an agreement with IBM Danmark A/S on the sale of its fully owned information technology subsidiary Maersk Data.

   Terms of the transactions were not disclosed, but A.P. Moller-Maersk said it will record a gain of about DKK 2.5 billion ($620 million) on the sale.

   “The A.P. Moller-Maersk group has a growing need for advanced IT solutions globally,” the Danish shipping, energy and retail group said. “Maersk Data AS, being our preferred supplier and leading IT business in the Nordic countries, may find it difficult to fulfill this role in the future without making considerable new investments and acquisitions.”

   A.P. Moller-Maersk said Maersk Data will be in a better position as part of IBM. A.P. Moller-Maersk “will consequently continue and develop the close cooperation with the Maersk Data organization under IBM.”

   The sale is subject to approval from competition authorities.