IBM Completes Mainspring Acquisition

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SOMERS, NY - 07 Jun 2001: IBM today completed its acquisition of Mainspring, Inc., the Cambridge, Massachusetts-based business strategy consulting firm. The move enhances IBM's existing strategy practice at a time when executives are under intense pressure to align investments that will deliver short-term payoff and long-term alternatives toward business growth and profitability.

John M. Connolly, former Mainspring chairman, president and CEO becomes General Manager of the Global e-business Strategy and Change practice at IBM Global Services -- the world's largest business and IT services company. He will report to Tom Hawk, General Manager for Business Innovation Services, Americas.

"When the Dow was rocketing upwards, clients came to us for advice on innovation, new business models and growth opportunities," said Hawk. "These days we're getting even more requests for initiatives that are focused on short-term ways to improve efficiencies and add value. We are immediately responding to the market and capitalizing on the merger by developing services that help executives deliver greater shareholder value in this uncertain economy."

Going forward, IBM business consultants will focus on helping senior managers identify areas of weakness in their business strategies, offer advice on root causes, and develop action roadmaps. They are positioned to offer particular guidance to clients on reducing costs, aligning strategy and technology across their business, retaining profitable customers, creating integrated e-business strategies, and developing ways to balance limited resources among different initiatives.

"Wrapping Mainspring into the world's largest business and IT consulting services organization makes tremendous sense," said Connolly. "This combination will give IBM unparalleled capabilities in this marketplace."

IBM plans to capitalize on its e-business consulting experience, which combines both business strategy and technology expertise, to help companies set directional metrics, prioritize action plans within a matter of weeks, and unite management and board members around a clear list of objectives aligned with strategic priorities.

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