IBM, Lenovo Appear Headed Toward Joint Venture
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IBM appears close to signing a deal to turn its PC business over to Lenovo Group of China. Industry experts say it makes sense for IBM to get out of the low-margin PC business, but caution that
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IBM's deal to sell its personal computer business to China's Lenovo, a move likely to reshape the industry, signals the PC has evolved into a mass consumer item with little profit, analysts say.
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Services and software companies IBM  and SAP , longtime technology partners, will bring out their first joint software product in the fourth quarter of this year, the two companies said on Monday.
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Chinese computer maker Lenovo says talks are at an "advanced stage" over a major IT deal, believed to be with IBM.
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(InfoWorld) - 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. Lenovo plans to expand the services it offers customers with the addition of "fee-based technical support, installation, deployment and other PC-related services," the filing said. Lenovo did not reveal when the new services will be introduced, but they are likely to come soon: the company expects to make payments to IBM under this deal during its current financial year, which ends next month. In an e-mail statement, Lenovo spokeswoman Angela Lee declined to offer details of the new services, but said "many" of them are intended for consumers and small-business users -- markets that Lenovo is keen to crack outside China, and particularly in the U.S. After considering several service providers, Lenovo chose to outsource these functions to IBM, which is one of the company's largest investors, because the company has an established worldwide services organization and an existing business relationship with Lenovo. Lenovo expects the deal to generate payments to IBM of $15 million during its current 2006-2007 fiscal year, which ends March 31.That amount is expected to rise to $35 million during the company's next fiscal year, 2007-2008, and $45 million during 2008-2009. These payments may increase further to $50 million annually during the 2009-2010, 2010-2011, and 2011-2012 fiscal years, Lenovo said in the filing.
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China's largest PC company and IBM are developing plans to export Lenovo's product lines around the world after the merger is complete.
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TechWeb - IBM works with Microsoft and other application vendors to expand the use of its hardware in computer clusters and mainframes.
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IBM reportedly is selling its personal computer business for some $2 billion, possibly to China&#39;s Lenovo. Big Blue currently ranks a distant third in PC sales with a 6 percent market share, trailing
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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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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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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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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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While the details are still shrouded in mystery, sources close to the negotiations between computer giant IBM and the China-based PC maker Lenovo say that the companies will announce plans tonight for IBM to sell off its PC business for up to $2 billion.
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IBM's (NYSE: IBM) deal to sell off its PC unit to China-based Lenovo may hit a snag, as U.S. federal agencies decide whether the arrangement endangers national security.
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As soon as rumors began to fly about the IBM-Lenovo deal, bloggers and others began to buzz about the possibility that IBM would use the opportunity to buy Apple. The contract posted by Lenovo, however, says no. [Missing Links]
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Lenovo, China&#39;s largest personal computer maker, will pay US$1.75 billion (HK$13.65 billion) in cash, stock and assumed debt for IBM&#39;s struggling PC operations in a move that will make it the world&#39;s third-biggest PC manufacturer and fulfil its long-held
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IBM and Lenovo Group plan to create a new US personal computer company that would own IBM&#39;s PC business, according to a report published Tuesday.