China&#39;s Lenovo buys control of IBM&#39;s PC business for US$1.75B
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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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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 largest personal computer maker, Lenovo Group Ltd. (0992.HK), said on Wednesday it is buying control of IBM's PC-making business for &#36;1.25 billion, capping the U.S. tech giant's gradual withdrawal from the business it helped pioneer in 1981.
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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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BEIJING- Chinese computer maker Lenovo Group said Wednesday it will take over IBMÂ´s personal computer business, creating the worldÂ´s third-largest PC maker in a $1.75 billion deal that announces ChinaÂ´s ambitions to become a key player in the global
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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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IBM has sold its computer making business to Lenovo Group, the Chinese technology company, in a $1.75 billion (Â£900 million) deal, signalling an exit from the PC market it helped create in the 1980s.
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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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Squeezed at home, China's biggest computer maker, Lenovo, is buying IBM's money-losing PC business. But venturing abroad is fraught with risk
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BEIJING/SAN FRANCISCO  - IBM is selling its  PC-making business to China's largest personal computer maker,  Lenovo Group Ltd., for $1.25 billion, marking the U.S. giant's  retreat from an industry it helped pioneer in 1981.
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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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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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Ziff Davis - IBM's decision to sell its PC business to Chinese computer maker Lenovo Group Ltd. is offering lessons both in how to expand into emerging markets and how federal regulators will view such deals.
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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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Lenovo&#39;s purchase of IBM&#39;s PC business is such an unprecedented coup for a Chinese technology company that even some local journalists joined the cheers when it was announced on Wednesday.
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By Simon London in San Francisco, Mure Dickie in Beijing and,Justine Lau and Francesco Guerrera in Hong Kong. Lenovo, China&#39;s largest computer supplier, announced a $1.75bn (Â£900m) deal to buy the PC unit
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China's Lenovo Group Ltd. has agreed to acquire IBM's personal computing division for $1.25 billion in cash and equity, a move expected to transform it into the world's No. 3 PC maker.