BM Corp. has sold a number of software products and other assets from its Watson Health business to private equity company Francisco Partners.
The announcement of the deal today comes almost a year after reports emerged that IBM is considering selling Watson Health. Last February, The Wall Street Journal reported that executives had at one time or another tested the public by associating with a company with empty checks.
The Journal reported in February that Watson Health has an annual revenue of approximately $ 1 billion. In addition, the unit was said to be unprofitable at the time. A recent report published by Axios earlier this month quoted sources as saying that IBM was seeking at least $ 1 billion from the unit.
IBM and Francisco Partners did not disclose the financial terms of the acquisition in their announcement today. However, they have made details of which goods will change hands.