Apple (AAPL) and International Business Machines (IBM) are teaming up in an effort to make iPhones and iPads more business savvy.
While not much is known about the AAPL-IBM deal, both companies have said they are excited in what they are working on. The two companies have been working on the project to increase the usefulness of Apple’s mobile devices in the business world for several months now, reports The New York Times.
“In ’84, we were competitors. In 2014, I don’t think you can find two more complementary companies,” Tim Cook, CEO of Apple, told The Wall Street Journal.
Here are a few things to know about the deal between Apple and IBM, as listed by NYT.
- The two companies are working on over 100 apps designed for iOS that will be useful to businesses.
- The financial terms of the deal have not been released.
- The first of the business-focused apps is expected to be released this fall.
- The new apps will reportedly bring “big data analytics” to mobile devices.
- The deal will have IBM providing on-site support and service for AAPL products.
To see more about Apple and IBM’s deal, click here.
AAPL shares were up 1% as of Wednesday morning.
IBM shares were up 2% as of Wednesday morning.
