IBM (IBM
) announced today that it has closed a deal with SYNNEX to sell its customer care outsourcing services segment.
The deal was struck for a total of $505 million with roughly $430 million of that figure coming from cash. The deal also mandated that SYNNEX enter a multi-year agreement with IBM as partners for global customer care and outsourcing services.
SYNNEX, a Fortune 500 firm, is known for its IT supply chain services. The California-based firm trades under the ticker SNX and has seen its stock price soar approximately 60% since the middle of April.
IBM shares were up $1.62, or 0.87%, at Tuesday’s close. The stock is down just over 2% in 2013.
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