In “huh, that’s still a thing” news, IBM announced plans to sell Lotus Notes, Domino and Portal to HCL, an Indian IT services company. This marks the biggest IT acquisition in India’s history.

HCL will pay $1.8 billion for the remains of Lotus, which IBM acquired back in 1995 for $3.5 billion. Obviously this is a legacy software play for HCL, which already had a partnership with IBM in 2017 to take over development of the software.

IBM obviously could use a little cash after the Red Hat acquisition, so the sales makes sense from their perspective. In terms of depreciation, since buying Lotus, IBM only lost $2.20 per second on the acquisition.

Source: Reuters