Lenovo buys IBM PC business
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IBM, which revolutionised the global computer industry when it launched its first desktop in 1981, has sold its PC business to a Chinese group in a $1.75bn (Â£900m) deal, it was confirmed today.
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International Business Machines Corp. agreed to sell its personal computing business to China&#39;s largest computer maker, Lenovo Group Ltd.
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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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Chinese PC vendor Lenovo announced its acquisition of IBM&#39;s Personal Computing Division (PCD) for a combination of cash and stock totaling US$1.25 billion.
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From the introduction of its first PC in 1981 to this week&#39;s sale of its PC business to Lenovo of China for about $1.75 billion in cash, IBM has had a quite a few milestones in the PC industry.
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BEIJING- Chinese computer maker Lenovo Group said Wednesday it will take over IBMÂ´s personal computer business, creating the worldÂ´s third-largest PC maker in a $1.75 billion deal that announces ChinaÂ´s ambitions to become a key player in the global
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Lenovo Group Ltd., China&#39;s biggest personal computer maker, agreed to pay $1.25 billion for International Business Machines Corp.
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Lenovo Group, China&#39;s personal computer giant, Wednesday signed a definitive agreement with IBM to acquire Big Blue&#39;s personal computer
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InfoWorld - Lenovo Group has signed a five-year deal with IBM&#160;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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BEIJING, Dec. 31 -- The biggest Chinese computer maker Lenovo Group acquired the personal computer unit of the world&#39;s largest information technology giant IBM on December 8 at a cost of US$1.75 billion.
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On 7 December 2004, IBM and China&#39;s Lenovo announced that Lenovo will acquire IBM&#39;s PC business for a total of $1.75 billion in cash and shares.
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BEIJING/SAN FRANCISCO  - IBM is selling its  PC-making business to China's largest personal computer  company, Lenovo Group Ltd., for $1.25 billion, marking the U.S.  company's retreat from an industry it helped pioneer in 1981.
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IBM's decision to sell its personal computer business to China-based Lenovo gives the world's third-largest nation the distinction of housing what will soon be the world's third-largest PC maker. On a deeper level, the deal also marks a changing of the guard in the PC business and rearranges the game board for rivals Dell and Hewlett-Packard.
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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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InfoWorld - Lenovo announced its intent to jump into the server business by licensing x86 server technology from IBM, helping extend its product offerings to SMBs.
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NEW YORK: The Lenovo Group could pay as much as $2 billion to create a joint venture with IBM by buying a majority stake in IBM&#39;s personal computer business, the Wall Street Journal reported on Tuesday.
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IBM is selling its PC-making business to China&#39;s largest personal computer maker, Lenovo Group Ltd. (0992.HK: Quote, Profile, Research