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As per Forbes Global 2000, IBM ranked well on parameters like sales, profits, and market value. Subsidiaries of IBM include ADSTAR, Lotus Software, Rational Software, FileNet, Informix, Iris Associates, Telelogic, Sequent Computer Systems, Tivoli Systems, Inc. Industries served by this firm include computer hardware, computer software, consulting, and IT services.
IBM was established as Tabulating Machine Company in 1896. Herman Hollerith founded this firm in Broome County, New York. Incorporation took place on June 16, 1911 followed by a listing on New York Stock Exchange in 1916. It was in 1924 that IBM acquired its present name.
Products and services
IBM offers software, storage, systems and servers, semiconductors, printing systems, workstations, IBM certified used equipments and many other products to its clients. Major services of IBM include software services, services for mid-sized companies, engineering solutions, and asset recovery.
In 2007, total sales of IBM amounted to around $105.49 billion. Profits made by this firm were worth nearly $11.86 billion. Total assets held by IBM were worth $115.91 billion. About 386,558 employees are employed with IBM.
Awards and recognition
IBM has won plenty of accolades and awards for its corporate social responsibility activities. In 2008, Susilo Bambang Yudhoyono, President of Indonesia, acknowledged IBM's continuous work aimed at alleviating problems faced by Tsunami hit people in Ache and Nias. China's Ministry of Education also recognized IBM's contributions in education. In 2008, Chinese wing of IBM also won Best Public Image award given by Development Research Center of the State Council and Guang Hua Media.
Current financial crisis
Though most IT companies are expected to get hit by current financial crisis, IBM's senior vice president and chief financial officer, Mark Loughridge, has expressed confidence regarding his firm's ability to cope with it. IBM banks upon non-cancellable leases and a business model that promises to offer profits and cash.