CTR Renamed to International Business Machines

The Computing-Tabulating-Recording Company (CTR) underwent a significant transformation when it was renamed to International Business Machines (IBM). This change was driven by the company's expansion and the need for a name that better represented its growing global operations. Under the leadership of Thomas Watson, CTR experienced substantial revenue growth, reaching $9 million, which is equivalent to approximately $163 million today. This financial success allowed the company to extend its reach into international markets, including Europe, South America, Asia, and Australia. Watson's dissatisfaction with the original name, which he found cumbersome, led to the adoption of the new title, International Business Machines. This name had previously been associated with CTR's Canadian division and was seen as more fitting for a company that was evolving beyond its initial focus on tabulating and recording equipment. The renaming marked a pivotal moment in the company's history, aligning its identity with its broader ambitions in the technology sector.