Boeing and GM Sell Joint Venture HRL Laboratories to IBM

Boeing and General Motors (GM) have agreed to sell HRL Laboratories to IBM. The companies will retain their 50:50 joint venture stake in the research organization, but IBM will take ownership of the entity following the completion of the sale.

The companies did not disclose the financial terms of the transaction, which is subject to customary regulatory approvals and other closing conditions.

HRL Laboratories, established in 1948, develops technologies for the automotive, aerospace, and defense sectors. Following the sale, IBM will build on HRL's long history in physical science and engineering research.

Boeing and GM stated that they will continue to work with IBM on quantum computing applications and other advanced technology projects.