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International Business Machines Corporation (IBM) is an information technology (IT) company. IBM operates in five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems and Technology and Global Financing. GTS provides IT infrastructure services and business process services. GBS provides professional services and application management services. Software consists of middleware and operating systems software. Systems and Technology provides clients with business solutions requiring advanced computing power and storage capabilities. Global Financing invests in financing assets, leverages with debt and manages the associated risks. In October 2012, it acquired Texas Memory Systems. In October 2012, it announced the opening of three new branch offices in ASEAN, which are located in the cities of Ipoh and Malacca in Malaysia and Bandung in Indonesia, and announced the opening of three new branches across Brazil. In December 2012, it acquired Kenexa.