Update: Lenovo confirms talks with 'major' IT company
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China's Lenovo GroupÂ 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.ADVERTISEMENTSolaris 10(TM) OS: Position your business ten moves ahead.Solaris 10 OS has arrived and provides even more reasons for the world's most demanding businesses to operate on this, the leading UNIX platform. Like the fact you can run Linux and Solaris applications side-by-side and run the same OS on SPARC(R), AMD Opteron(TM), and Intel processor-based systems. Discover more reasons and how Solaris 10 OS can move your business ahead today.
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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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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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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.
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IBM has gained a crucial foothold in China by selling its PC business to Lenovo, the countryâs biggest computer maker, for $1.75 billion (Â£900 million) in cash, shares and debt.
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Shares in Lenovo Group resumed trading on Wednesday, after being temporarily suspended due to theÂ sale of 300 million shares by IBM, the PC company's second-largest shareholder.
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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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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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Lenovo will pay $1.25bn (Â£647m) in cash for the business, which is expected to transform it into the world&#39;s number three PC maker.
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Microsoft Corp. reached an agreement  with Lenovo Group Ltd. to pre-load Lenovo computers with a  toolbar of Microsoft&#39;s Windows Live online services including  Web search, the two companies said on Tuesday.
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Although virtually unknown in the U.S., Lenovo - in talks to buy I.B.M.'s personal computer business - is China's largest PC maker and the world's fastest growing one.
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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.
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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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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'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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Lenovo Group Ltd. agreed to pay $1.25 billion for International Business Machines Corp.&#39;s personal computer business, lifting China&#39;s largest PC maker to third in world rankings and giving it a globally recognized brand.
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Chinese computer maker Lenovo's suspends trade in its shares in Hong Kong as reports link it to $2bn deal for IBM's PC  business.