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EXHIBIT 21
INTERNATIONAL BUSINESS MACHINES CORPORATION SUBSIDIARIES
Subsidiaries—as of December 31, 2005
Company Name
| | State or country of
incorporation or organization
| | Voting % owned by immediate
parent
| | Notes
|
|---|
| IBM Credit LLC | | USA (Delaware) | | 100.0 | | |
| IBM International Foundation | | USA (Delaware) | | 100.0 | | |
| IBM International Services Corporation | | USA (Delaware) | | 100.0 | | |
| | IBM Business Transformation Center, S.r.l. | | Costa Rica | | 100.0 | | |
| Tivoli Systems, Inc. | | USA (Delaware) | | 100.0 | | |
| IBM World Trade Corporation | | USA (Delaware) | | 100.0 | | |
| | IBM Bahamas Limited | | Bahamas | | 100.0 | | |
| | WTC Insurance Corporation, Ltd. | | Bermuda | | 100.0 | | |
| | IBM Canada Limited — IBM Canada Limitee | | Canada | | 100.0 | | |
| | | IBM Argentina Sociedad Anonima | | Argentina | | 90.0 | | (B) |
| | | IBM Canada Credit Services Company | | Canada | | 100.0 | | |
| | | IBM Canada Holding Company, Limited Partnership | | Canada | | 99.0 | | |
| | | | IBM Americas Holding Limited | | Bermuda | | 100.0 | | |
| | | | | IBM Brasil — Industria, Maquinas e Servicos Limitada | | Brazil | | 100.0 | | |
| | IBM de Bolivia, S.A. | | Bolivia | | 100.0 | | |
| | IBM de Chile, S.A.C. | | Chile | | 100.0 | | (B) |
| | IBM de Colombia, S.A. | | Colombia | | 87.1 | | (B) |
| | IBM del Ecuador, C.A. | | Ecuador | | 100.0 | | |
| | Grupo IBM Mexico, S.A. de C.V. | | Mexico | | 100.0 | | |
| | | IBM de Mexico, S.A. | | Mexico | | 100.0 | | (A) |
| | IBM del Peru, S.A. | | Peru | | 100.0 | | |
| | IBM del Uruguay, S.A. | | Uruguay | | 100.0 | | |
| | IBM de Venezuela, S.A. | | Venezuela | | 100.0 | | |
| | IBM A/NZ Holdings Pty. Limited | | Australia | | 90.0 | | (B) |
| | | IBM Australia Limited | | Australia | | 100.0 | | |
| | | IBM New Zealand Limited | | New Zealand | | 100.0 | | |
| | IBM Global Services India Pvt. Ltd. | | India | | 90.0 | | (A/B) |
| | PT IBM Indonesia | | Indonesia | | 99.0 | | |
| | IBM World Trade Asia Holdings LLC | | USA (Delaware) | | 100.0 | | |
| | | YK IBM AP Holdings | | Japan | | 100.0 | | |
| | | | IBM Japan, Ltd. | | Japan | | 100.0 | | |
| | IBM Korea, Inc. | | Korea (South) | | 100.0 | | |
| | IBM Malaysia Sdn. Bhd. | | Malaysia | | 100.0 | | |
| | IBM Philippines, Incorporated | | Philippines | | 100.0 | | (A) |
| | IBM Thailand Company Limited | | Thailand | | 100.0 | | (A) |
| | IBM Vietnam Company | | Vietnam | | 100.0 | | |
| | IBM Bulgaria Ltd. | | Bulgaria | | 100.0 | | |
| | IBM Croatia Ltd./IBM Hrvatska d.o.o. | | Croatia | | 100.0 | | |
| | IBM Egypt Business Support Services | | Egypt | | 99.8 | | |
| | IBM Eesti Osauhing (IBM Estonia Ou) | | Estonia | | 100.0 | | |
| | IBM Italia S.p.A. | | Italy | | 100.0 | | |
| | | Companhia IBM Portuguesa, S.A. | | Portugal | | 100.0 | | |
| | | IBM Hellas Information Handling Systems S.A. | | Greece | | 90.0 | | (B) |
| | | IBM Israel Limited | | Israel | | 100.0 | | |
| | | IBM (International Business Machines)Turk Limited Sirketi | | Turkey | | 98.0 | | (B) |
| | | IBM South Africa Group Ltd. | | South Africa | | 100.0 | | |
| | | | | | | |
| | | | IBM South Africa (Pty) Ltd. | | South Africa | | 100.0 | | |
| | IBM East Africa Limited | | Kenya | | 66.7 | | (B) |
| | Sabiedriba ar irobezotu atbildibu IBM Latvija | | Latvia | | 100.0 | | |
| | IBM Lietuva | | Lithuania | | 100.0 | | |
| | IBM Holdings B.V. | | Netherlands | | 100.0 | | |
| | | IBM China Holdings B.V. | | Netherlands | | 100.0 | | |
| | | | IBM China Company Limited | | P.R.C. | | 100.0 | | |
| | | | IBM China/Hong Kong Limited | | Hong Kong | | 100.0 | | |
| | | IBM Global Holdings B.V. | | Netherlands | | 100.0 | | |
| | | | IBM Central Holding GmbH | | Germany | | 100.0 | | |
| | | | | IBM Deutschland GmbH | | Germany | | 89.3 | | (B) |
| | | | | | IBM Oesterreich Internationale Bueromaschinen Gesellschaft m.b.H. | | Austria | | 100.0 | | |
| | | | | | IBM (Schweiz)-IBM (Suisse)-IBM (Svizzera)-IBM (Switzerland) | | Switzerland | | 100.0 | | |
| | | | | | | IBM Central and Eastern Europe B.V. | | Netherlands | | 100.0 | | |
| | | | | | | | IBM Ceska Republika spol. s.r.o. | | Czech Republic | | 100.0 | | |
| | | | | | | | IBM East Europe/Asia Ltd. | | Russia | | 100.0 | | |
| | | | | | | | IBM Polska Sp.z.o.o. | | Poland | | 100.0 | | |
| | | | | | | | IBM Romania Srl | | Romania | | 100.0 | | |
| | | | | | | | IBM Slovensko spol s.r.o. | | Slovak Republic | | 100.0 | | |
| | | | IBM International Holdings B.V. | | Netherlands | | 94.4 | | (B) |
| | | | | IBM Ireland Limited | | Ireland | | 100.0 | | |
| | | | | IBM Singapore Pte. Ltd. | | Singapore | | 100.0 | | |
| | | | | International Business Machines Corporation Magyarorszagi Kft. | | Hungary | | 99.9 | | (B) |
| | | | | | Lefern Limited | | Ireland | | 99.9 | | (B) |
| | | | | | | IBM International Treasury Services Company | | Ireland | | 82.6 | | (B) |
| | | | IBM North Region Holdings | | United Kingdom | | 100.0 | | |
| | | | | IBM Nederland N.V. | | Netherlands | | 88.2 | | (B) |
| | | | | IBM United Kingdom Holdings Limited | | United Kingdom | | 100.0 | | |
| | | | | | IBM United Kingdom Limited | | United Kingdom | | 89.0 | | (B) |
| | | IBM International B.V. | | Netherlands | | 100.0 | | |
| | | | IBM Europe Holdings B.V. | | Netherlands | | 100.0 | | |
| | | | | Compagnie IBM France, S.A.S. | | France | | 100.0 | | |
| | | | | | IBM Maroc | | Morocco | | 51.0 | | (B) |
| | | | | | IBM TunisIe | | Tunisia | | 100.0 | | |
| | | IBM Taiwan Holdings B.V. | | Netherlands | | 100.0 | | |
| | | | IBM Taiwan Corporation | | Taiwan | | 100.0 | | |
| | | International Business Machines of Belgium S.A. | | Belgium | | 100.0 | | (B) |
| | International Business Machines West Africa Limited | | Nigeria | | 87.5 | | (B) |
| | IBM Slovenija d.o.o. | | Slovenia | | 100.0 | | |
| | International Business Machines, S.A. | | Spain | | 100.0 | | |
| | IBM Nordic Aktiebolag | | Sweden | | 100.0 | | |
| | | IBM Danmark A/S | | Denmark | | 100.0 | | |
| | | International Business Machines A/S | | Norway | | 60.0 | | |
| | | Oy International Business Machines AB | | Finland | | 100.0 | | |
| | | International Business Machines Svenska A.B. | | Sweden | | 100.0 | | |
| | IBM Middle East FZ-LLC | | United Arab Emirates | | 100.0 | | |
- (A)
- Minor percentage held by other IBM shareholders subject to repurchase option.
- (B)
- Remaining percentage owned by other wholly-owned IBM company(s).
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INTERNATIONAL BUSINESS MACHINES CORPORATION SUBSIDIARIES
