TECHNOLOGY - Aug. 18, 1992

IBM, Sears Plan Computer Network: International Business Machines Corp. will announce a joint venture with Sears, Roebuck & Co. to build what could be the world’s largest private computer network, industry analysts said. IBM said earlier that it will announce a joint venture at a news conference today, but an IBM spokesman declined to elaborate. Officials at Sears, the Chicago-based retailer, were not available to comment. Analysts said they expect the “value-added network” to be aimed at both consumers and corporations, providing a variety of information through public phone lines and private computer hookups. Analysts said IBM will own a majority stake in the new venture, which will become a separate unit of IBM. IBM and Sears already jointly operate Prodigy Services Co., which offers consumers home-shopping and related services. The new venture will be much broader and larger than the Prodigy system, analysts said.