China&#39;s Lenovo in talks with &#39;major IT firm&#39; for acquisition
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SHANGHAI : China&#39;s largest manufacturer of personal computers Lenovo Group said it is in negotiations with a major information technology company, believed to be US-based IBM.
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China's biggest computer maker said Tuesday it is in acquisition talks with a major international technology company, a disclosure which follows reports it might buy IBM Corp.'s personal computer business.
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The company that has been synonymous with the term &quot;PC&quot; since it was first created is getting out of the PC business. According to a report in the New York Times, IBM is in talks with China&#39;s largest maker
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Lenovo Group Ltd. agreed to pay $1.25 billion for International Business Machines Corp.&#39;s personal computer business, making the Chinese company the world&#39;s third- largest PC maker and giving it a globally recognized brand.
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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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IBM (IBM:NYSE - news - research) is reportedly ready to exit the PC business, having long lost its dominance in the arena. The report said Lenovo Group, China&#39;s top PC company, is among the interested bidders.
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Two years ago, I got an inside look at operations at Lenovo Group, the Chinese computing giant that is expected to form a joint venture with IBM to sell PCs worldwide.
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HONG KONG/SAN FRANCISCO  - China'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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Lenovo Group stayed silent Friday about reports it was talking with IBM Corp. about buying the US companyÂ¡Â¯s personal computer business, but an executive hinted that the Chinese
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TOKYO - China's Lenovo Group Ltd. signed a definitive agreement on Wednesday to acquire IBM Corp.'s personal computing division. Lenovo will pay US$1.25 billion in cash for the business, which is expected to transform it into the world's number three PC maker, the companies announced.
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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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China's largest manufacturer of personal computers Lenovo Group said it has bought IBM's PC business for 1.25 billion dollars, making it the world's number three in the intensely competitive field.
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TOKYO - China's Lenovo Group Ltd. is in talks with a major international IT company regarding an acquisition, it said in an announcement to the Hong Kong Stock Exchange on Tuesday. The other party was not named.
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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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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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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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China&#39;s biggest computer maker said it is in acquisition talks with a major international technology company, a disclosure that comes amid reports it might buy IBM&#39;s personal computer business.