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Updated Saturday, November 21, 2009 1:24 pm TWN, Bloomberg

IBM to use banks more for deals: mergers head

NEW YORK -- International Business Machines Corp., the world's largest computer-services provider, will use banks more often as advisers on deals, its head of mergers and acquisitions said Thursday. IBM has used internal resources for most acquisitions, Eli Mendoza, vice president for corporate development, said in an interview at a conference in New York. The company has done about 80 deals in five years, a pace that may continue, he said.

“Banks can help you understand what may be available that you didn't think about,” said Mendoza, who took on his new role at the Armonk, New York-based company in June.

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