For those that do not know, IBM processors are used in high-performance computing applications. Some of the world's fastest supercomputers are based on POWER [1]. These supercomputers can have hundreds of thousands or even millions of cores for massively parallel computing. We've seen recently from some of these systems that the POWER processors are much more effective than x86 processors. They consume lower power and generate less heat. If combined with Nvidia GPU's for CUDA and Mellanox's commodity InifiniBand interconnect hardware, we could have affordable clusters for heterogenous high-performance computing.
In the past, the supercomputers/clusters sold by IBM do not include hardware from these other companies. I think this partnership with Tyan (major manufacturer of current x86 chipsets) will also allow 3rd-party vendors to build systems with IBM POWER processors.
In other words, POWER is not in the same market as x86 or ARM. It does have its own niche in the market.
[1] http://www.top500.org/lists/2013/06/