“This is one of the last quarters where IBM’s lagging hardware business will drag down performance."

The move is expected to make IBM more of a software company and less of a low-growth services vendor.

The developer who pioneered securitization in the data center industry says the latest deal reduces its capital cost by 30 percent.

There’s pent-up demand for data center space in the country, but doing business there isn’t easy for outsiders.

“There is a projection that the demand for data centers in Thailand will grow more than 20 percent a year.”

The pricing of the offering, led by Morgan Stanley and Citigroup, values Chindata at about $4.9 billion.

Employees who worked at its Palo Alto headquarters and go to Denver, for example, must accept an 18% salary reduction.

While PC demand has seen a boost, businesses have become cautious in major data center equipment purchases.

"The general economy has not really absorbed all the gyrations yet of what’s going on.”

Its software is relevant to IT teams working from home, but some of its customers are hard hit small and mid-size businesses.