IBM appears close to PC deal
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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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IBM has put its PC business up for sale, according to a story published on Friday on Web site of The New York Times.
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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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The landmark PC deal between IBM and the China-based Lenovo Group is expected to lead to a redistribution of OEM desktop- and notebook-PC orders among Taiwan makers, the Chinese-language Economic Daily News (EDN) reported today.
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IBM has reached an agreement in principle to sell its personal computer business to Lenovo Group, China&#39;s largest PC maker, in a deal valued at $1 billion to $2 billion, people close to the negotiations said.
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Its Workplace package is catching on with clients, and more software makers are signing on. Still, it&#39;s no Windows smasher. IBM launched a bold foray into desktop computing last spring, when it took on Microsoft&#39;s
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IBM is discussing selling its PC business to Lenovo Group Ltd., China's largest maker of personal computers, and at least one other potential buyer, according to The New York Times.
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China&#39;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.
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Lenovo Group Ltd. will purchase IBMâs personal computer business for $1.25 billion including $650 million in cash and $600 million in stock plus $500 million of debt assumption.
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China's largest personal computer  maker, Lenovo Group Ltd., could announce as early as Tuesday  that it is buying control of IBM's PC-making business for up to  US$2 billion, a source familiar with the situation said.
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Industry watchers say a report that IBM Corp. has put its once-dominant personal computer business up for sale could signal the first move in a broader consolidation destined to shrink the number of PC manufacturers by about a third over the next couple of years.
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For China, the country&#39;s biggest computer supplier buying out a unit of IBM is more than just a business deal. Lenovo Group&#39;s decision to purchase IBM&#39;s PC group for $1.75 billion could be
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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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Speculation surrounding the sale of part of the IT company IBM today intensified as the Lenovo Group, China&#39;s leading PC brand, said negotiations with another manufacturer were at an &quot;advanced stage&quot;.
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IBM, which pioneered the personal computer business in the 1980s, is said to be negotiating the sale of its PC unit in a move that could reshape the industry.
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IBM is expected to announce Tuesday after the close of the market an historic pact to sell its $11.5 billion PC business to China PC giant Lenovo, sources said.
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, 12/8/2004. IBM&#39;s awaited personal computing division sale to Lenovo Group Ltd. became official this morning with an announcement that Big Blue will pass the unit to China&#39;s number one PC maker for $1.75 billion.