IBM

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Multinational company, the largest manufacturer of computers in the world. The company is a descendant of the Tabulating Machine Company, formed in 1896 by US inventor Herman Hollerith to exploit his punched-card machines. It adopted its present name in 1924. By 1991 it had an annual turnover of US$64.8 billion and employed about 345,000 people, but in 1992 and 1993 it made considerable losses. The company acquired Lotus Development Corporation in 1995. By 1997 IBM had, under new management, recovered financially. In the fourth quarter of 2003, IBM's revenue was US$25.9 billion, of which services accounted for US$11.4 billion and software US$4.3 billion. The company's net revenue for the quarter was US$2.7 billion.

In 2003, IBM's chairman and chief executive, Sam Palmisano, unveiled the company's ‘big bet’ for the future, e-business on demand. On-demand computing envisages corporate applications working together with those of other companies using World Wide Web services, and with shortfalls in computing capacity being remedied through access to online data centres.

Green represents the Catholic people. Orange stands for the Protestant people. White is a symbol of peace. Effective date: 29 December 1937. >>