IBM Closes Acquisition of Wilshire Credit Corporation Assets

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March 1, 2010
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IBM Closes Acquisition of Wilshire Credit Corporation Assets

ARMONK, N.Y., March 1 -- IBM (NYSE:IBM) today announced that it has finalized its acquisition of the core operating assets of Wilshire Credit Corporation from Bank of America Corporation (NYSE:BAC). The initial agreement to acquire Wilshire assets was announced on October 5, 2009.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO )

The acquisition strengthens IBM's commitment to mortgage business process services that improve clients' flexibility, competitiveness, and ability to manage their businesses more effectively through dynamic market cycles. As part of the closing process, Bank of America will retain Wilshire's mortgage servicing rights and related assets.

  For more information please see: http://www.ibm.com/services

  Press Contact:
  Bruce McConnel
  IBM External Relations
  804-327-4644
  wmcconn@us.ibm.com

Photo:  http://www.newscom.com/cgi-bin/prnh/20090416/IBMLOGO
PRN Photo Desk, photodesk@prnewswire.com
Source: IBM
   

CONTACT:  Bruce McConnel, IBM External Relations, +1-804-327-4644,
wmcconn@us.ibm.com

Web Site:  http://www.ibm.com/services

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