China Computer Maker Acquires IBM PC Biz
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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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Lenovo's acquisition of a business that iconic computer maker IBM pioneered declares China's desire for a place alongside the global corporate elite louder than ever before.
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BEIJING - Lenovo Group has agreed to pay US$1.25 billion ($1.75 billion) for IBM&#39;s personal computer business, lifting China&#39;s largest PC maker to third in global rankings and giving it a globally recognised brand.
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Lenovo Group Ltd. of China would transform itself into one of the world&#39;s top three computer makers with the purchase of International Business Machines Corp.
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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.
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BEIJING: IBM is selling its personal computer making business to China&#39;s largest PC producer, Lenovo Group Ltd, for US$1.25bil, marking the US giant&#39;s retreat from an industry it helped pioneer in 1981.
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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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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, which revolutionised the global computer industry when it launched its first desktop in 1981, has sold its PC business to a Chinese group in a $1.75bn (Â£900m) deal, it was confirmed today.
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Hundreds of IBM employees at Research Triangle Park will soon be working for a new company. The Chinese computer giant, Lenovo Group, is buying IBM&#39;s personal computer division for nearly $2 billion.
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Dec. 3--NEW YORK -- International Business Machines Corp. is negotiating with Lenovo Group Ltd. to sell its personal computer business to China&#39;s largest PC maker, the New York Times reported Friday.
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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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International Business Machines Corp. is selling a majority stake in its pioneering personal computer business to China's biggest computer maker, Lenovo Group Ltd., for &#36;1.75 billion in cash and stock.
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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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The computer giant hands off its personal-computer business business to a Chinese firm
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Although virtually unknown in the United States, Lenovo--said to be in talks to buy IBM&#39;s personal computer business--is China&#39;s largest PC maker and the world&#39;s fastest-growing one.
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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.