Chinese firm buys IBM&#39;s PC business
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China&#39;s largest manufacturer of personal computers, Lenovo Group, has bought IBM&#39;s PC business for $1.25 billion, making it the world&#39;s number three in the sector.
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After days of speculation, computer services giant IBM Corp. announced Wednesday a US$1.75-billion deal to sell its PC business to Asia&#39;s largest computer maker.
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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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The largest computer company in China, the Lenovo Group, has bought a majority stake in the PC-making business of the multinational IBM.
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IBM will sell its once vaunted personal computer business to Lenovo Group Ltd., the leading computer maker in China.-The Washington Post
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China&#39;s biggest computer maker says it has acquired a majority stake in IBM&#39;s personal computer business. The 1.75- billion-dollar deal is one of the biggest Chinese overseas acquisitions ever.
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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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Description: China&#39;s largest computer maker, Lenovo, is buying IBM&#39;s personal computer division for an estimated $1.75 billion.
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Hundreds of IBM employees at Research Triangle Park will soon be working for a new company. The Chinese computer giant, Lenovo Group, is buying IBM&#39;s personal computer division for nearly $2 billion.
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Lenovo Group Limited, a Personal Computer brand in China and across Asia has announced a definitive agreement under which Lenovo will acquire IBM&#39;s Personal Computing Division to form the world&#39;s third-largest PC business, bringing IBM&#39;s enterprise-class
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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.
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A Chinese company has become the third largest PC seller in the world by buying IBM&#39;s personal computer business. Lenovo has bought the business for USD 1.25 billion, of which USD650m is in cash and the rest in Lenovo shares.
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BEIJING -- China&#39;s biggest computer maker said it has acquired a majority stake in IBM&#39;s personal computer business for $1.75 billion dollars in one of the biggest Chinese overseas acquisitions ever.
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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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China&#39;s largest personal computer maker, Lenovo Group Ltd., said on Tuesday it was in acquisition talks with a major technology company, which a source familiar with the situation said was IBM.
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China's biggest computer maker, Lenovo Group, said today it has acquired a majority stake in International Business Machines Corp.'s personal computer business for $1.25 billion, one of the biggest Chinese overseas acquisitions ever.
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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.