USC, IBM and Fluor Corp have entered a public-private partnership to create a technology research center and provide the university with technological services.
USC's board of trustees approved an agreement Friday to build a five-story building on the corner of Blossom and Assembly streets to the tune of $25 million.
Additionally, 59 USC employees will have a shot at joining IBM while keeping the same university staff benefits.
The technology research center will move to a new building in 2016, following the completion of 650 Lincoln, the publicly-privately funded residence hall USC is working on with Holder Properties.
The center will open in January in current USC facilities until then.