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IBM, Vodafone Business team up to drive AI, 5G innovation in Europe

International Business Machines Corp. and Vodafone Business are setting up a new venture to drive 5G, cloud and artificial intelligence capabilities in Europe.

Under an eight-year commitment valued at about $550 million, IBM will provide managed services to Vodafone Business' cloud and hosting unit, while Vodafone Group PLC will offer access to its knowledge related to internet of things, 5G and edge computing, according to a Jan. 17 news release.

The new venture will become operational in the first half of 2019.