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. Last Updated: 07/27/2016

AT&T Buys IBM Data

NEW YORK -- AT&T Corp. is buying IBM's data networking business for $5 billion cash, filling an important gap in AT&T's ability to supply its business customers with high-speed data services and Internet access.

IBM's Global Network Business, with $2.5 billion in revenue, has 1 million Internet users as well as tens of thousand of business customers in the United States and abroad.