Official: IBM to absorb Lotus by end of year
- 03 July, 2001 08:34
The news has been circulating for some time but, without official confirmation, no one could say for sure. Now however, Alessandro Chinnici, director of marketing and communications for Lotus Italy, has confirmed that Lotus Development Corp. worldwide will be absorbed into IBM Corp. in a process that, barring unforeseen delays, will be concluded by the end of the year. Lotus will cease to be a company and become, for all intents and purposes, a brand. Products and developers will not change, however, and will be able to take advantage of being part of a larger, stronger corporate structure.