Boeing, GM Sell HRL Laboratories to IBM

Boeing and GM Agree to Sell HRL Laboratories

Boeing and General Motors (GM) have signed a definitive agreement to sell HRL Laboratories, LLC, their 50:50 joint venture, to IBM. The companies did not disclose the financial terms of the transaction.

The agreement marks the beginning of the regulatory review process before the transaction can be completed.

Established in 1948, HRL Laboratories develops technologies for the automotive, aerospace and defence sectors. Following the completion of the sale, IBM will take ownership of the research organization.

In a joint statement, Boeing and GM said IBM will build on HRL Laboratories’ long history in physical science and engineering research. Both companies added that they will continue to work with IBM on quantum computing applications and other advanced technology projects.

The companies said the proposed sale will allow each company to focus on its respective core business while continuing to develop products and services that meet evolving customer requirements.

The transaction remains subject to customary regulatory approvals and other closing conditions.

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