IBM Teams Up With Wanda On Chinese Cloud
#IBM and a division of Chinese conglomerate #WandaGroup said Sunday that they are forming a new company to bring more IBM Cloud services to China. Resulting cloud computing services from the new entity, called Wanda Cloud Company, will go live in 2018, an IBM spokeswoman said. Basically, the new company is licensing IBM (IBM, -0.90%) technologies that IBM will implement in Wanda-owned data centers. Wanda will sell the services to business customers and ensure that the services comply with Chinese regulations. IBM will share in the revenue, the spokeswoman said, but there were no details on that or the size of the deal which was signed by IBM chief executive Ginni Rometty and Wanda Group chairman Wang Jianlin. The Wanda Group parent company is a huge, far-reaching entity which last year spun out Wanda Internet Technology Group.