Based on this IBM rejected the approach from Xerox. Thankfully, Xerox persevered and launched the product on their own
. Can you imagine an office these days without a photocopier (Xerox)?
From what I've read, in the late 1970s, IBM told Bill Gates that there is no money to be made in software. The money is made in selling computers, they said. Consequently, they did lease Gates' DOS operating system, but gave him permission to market it elsewhere. We all know what happened next.
No, I don't think IBM has always been a "forward-looking" company.