In 1911, the International Time Recording Company (ITR, est. 1888) and the Computing Scale Company (CSC, est. 1891) merged to form the Computing-Tabulating-Recording Company (CTR, see where IBM gets its penchant for three letter acronym?). In 1924, the company adopted the name International Business Machines Corporation and a new modern-looking logo. It made employee time-keeping systems, weighing scales, meat slicers, and punched-card tabulators.
In the late 1940s, IBM began a difficult transition of punched-card tabulating to computers, led by its CEO Thomas J. Watson. To signify this radical change, in 1947, IBM changed its logo for the first time in over two decades: a simple typeface logo.
In 1956, with the leadership of the company being passed down to Watson’s son, Paul Rand changed IBM’s logo to have "a more solid, grounded and balanced appearance" and at the same time he made the change subtle enough to communicate that there’s continuity in the passing of the baton of leadership from father to son.
IBM logo’s last big change - which wasn’t all that big - was in 1972, when Paul Rand replaced the solid letters with horizontal stripes to suggest "speed and dynamism."
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