Lenovo to Buy IBM&#39;s PC Business?
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In the past 24 hours sources claiming to be working on the alleged IBM deal have named Lenovo -- China&#39;s largest maker of personal computers -- as the probable buyer.
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DECEMBER 07, 2004 (REUTERS) - China&#39;s largest PC maker, Lenovo Group Ltd., could announce as early as today that it is buying control of IBM&#39;s PC-making business for up to $2 billion, a source familiar with the situation said.
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IBM, the company that invented the PC, has put its PC business up for sale, according to the New York Times, and is in discussions with China&#39;s largest maker of personal computers, Lenovo Group (formerly Legend Group), and at least one other potential
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IBM has sold its computer making business to Lenovo Group, the Chinese technology company, in a $1.75 billion (Â£900 million) deal, signalling an exit from the PC market it helped create in the 1980s.
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Lenovo Group Limited and IBM have announced a definitive agreement under which Lenovo will acquire IBMâs Personal Computing division to form the worldâs third largest PC business, bringing IBMâs leading enterprise-class PC technologies to the
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Lenovo Group has signed a five-year deal with IBMÂ to provide services and support to its customers. The deal, outlined in a filing with the Hong Kong stock exchange Tuesday, could be worth up to $245 million for IBM over the term of the contract.
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IBM has reached an agreement in principle to sell its personal computer business to Lenovo, China&#39;s largest PC maker, in a deal valued at between $1 billion and $2 billion, people close to the negotiations said Monday.
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China&#39;s largest personal computer maker, Lenovo Group Ltd. (0992.HK: Quote, Profile, Research) , said on Wednesday it is buying control of IBM&#39;s PC-making business for $1.25
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Chinese PC maker Lenovo Group says it is in the advanced stages of discussions to make a major tech deal--one that is widely believed to be with IBM.
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This week, IBM said it is selling off most of its PC division to Lenovo, China&#39;s No. 1 PC maker. The news is likely to rattle IBM customers - but it may end up benefiting them long term.
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IBM, the pioneer of the personal computer, is selling its PC hardware business to Chinese firm Lenovo.
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idril writes &quot;According to The New York Times (free registration required), China&#39;s largest PC maker is reportedly in talks to buy IBM&#39;s PC business.
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China's largest PC maker could announce as early as today that it is buying control of IBM's PC-making business for up to $2 billion.
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IBM yesterday sold its personal computer business to China&#39;s leading manufacturer, Lenovo, in a deal that reflects the profound changes taking place in the economic world order and marks the end of an era for one of America&#39;s most iconic companies.
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Lenovo will pay $1.75 billion for IBM&#39;s PC business unit but will continue to use the IBM brand for five years. By Paul McDougall, and Darrell Dunn.
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IBM (IBM:NYSE - news - research) is reportedly on the verge of a deal to sell a majority interest in its PC business to Lenovo Group, China&#39;s top PC company.
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In a highly anticipated announcement, IBM (Quote, Chart) confirmed late Tuesday it is selling its PC division to China&#39;s Lenovo Group.