Pros
Large company who is trying to provide services it hadn't before and strives to innovate.
Cons
In my experience IBM turned out to be worse than all of the worst things you've ever read about the company, and that is pretty bad considering the volume of terrible things that are written. The work they acquired from PepsiCo was managed incredibly sloppy, they did not seem to care about their people at all and over time proved to be bold faced liars. The executive team and company had no interest in trying to learn the work before making assurances they could not, and did not deliver. I would be shocked if Pepsi continued to do business with them and renewed the contract here in a couple of years. Overall my experience after 3 years was that the company was sloppy, careless, and remarkably arrogant.