IBM to become new home for IoT, robotics

IBM will be the first company to be acquired by a foreign tech firm, according to its latest earnings report.

The company also said it had acquired the services of more than 50 people in the IoT and robotics sector.

The company also revealed that its IoT platform, called IoT Hub, had reached 10 million users.

In total, IBM has a turnover of more to $10 billion and has a $12 billion market cap.

Its stock has gained about 2 per cent this year.

Last week, IBM acquired US start-up Bluebox Robotics for $1.9 billion in cash.