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IBM is the abbreviation of International Business Machines Corporation. It is a well-known international technology company in America and it is being operated in over 170 countries. The foundation of the company started in 1911 in New York as CTR (computing - tabulating- recording) company. The owner of the company did not like its name (CTR) so later on, in 1924 the company was renamed as “IBM”. The company always indulges itself in new ways to improve the technology. This company arrived in the market as a producer as well as a seller of computer hardware, software, providing hosting, consulting services ranging from mainframe to nanotechnology. The things related to the technology whether its computer parts (floppy, hard disk) or any utility which is useful for the human (i.e. ATM) are the outcomes by this company.
The number of employers is almost 350,000 and they are named “IBMers.” This company has continually shifted its business operation for seeking of higher rank and more profitable market in the world. The company announced a project based on designing semiconductors, but due to some reasons they did not achieve this goal in the required time and now it is expected to be completed by the end of 2021.
IBM built an electromechanical computer during World War II. Several machine languages like FORTRAN were also the outcome of this company. IBM played a vital role in bringing new technology to the world. The first demo of AI was given in the checkers game on the computer. The first system was named IBM system/360. Also in 1969, IBM engineer Forrest Parry invented the magnetic stripe card that would become useful for credit/debit/ATM cards, driver's licenses, and access control applications.
The services like social security provided in America, Germany, and other countries were the reason for an increase in the revenue of the company from 1935 to 1939. The IBM PC, originally designated IBM 5150, was introduced in 1981, and it became an industry standard. In 2005, the company sold its personal computer business to Chinese technology company Lenovo and, in 2009, it acquired software company SPSS Inc.
Later in 2009, IBM's supercomputing program was awarded the National Medal of Technology and Innovation by U.S. President Obama. later on, in 2011, IBM gained worldwide attention for its artificial intelligence which was exhibited on Jeopardy! The company also celebrated its 100thanniversary in the same year on June 16.
Now the company is working as a partner with all major companies like Microsoft, Tencent, Facebook, etc. In 2015, IBM bought the digital part of The Weather Company, Truven Health Analytics for $2.6 billion.
In 2016, and in October 2018, IBM announced its intention to acquire Red Hat for $34 billion which was completed on July 9, 2019. And now the company is flourishing itself towards the upbringing of new technology to the world whether it could be in the form of nanotechnology.