IBM Closes Acquisition of Wilshire Credit Corporation Assets

PRNewswire-FirstCall
ARMONK, N.Y.

IBM today announced that it has finalized its acquisition of the core operating assets of Wilshire Credit Corporation from Bank of America Corporation . 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: www.ibm.com/services



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

First Call Analyst:
FCMN Contact: 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