Chinese Company Buys IBM&#39;s PC Business
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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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IBM, the company that invented the PC, has put its PC business up for sale, according to the New York Times, and is in discussions with China&#39;s largest maker of personal computers, Lenovo Group (formerly Legend Group), and at least one other potential
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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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BEIJING, Dec. 31 -- The biggest Chinese computer maker Lenovo Group acquired the personal computer unit of the world&#39;s largest information technology giant IBM on December 8 at a cost of US$1.75 billion.
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CHINA&#39;S largest manufacturer of personal computers Lenovo Group has confirmed it is in acquisition negotiations with a major information technology company, widely believed to be IBM.
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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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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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(KAAL) -- Last week it was announced that IBM might be selling part of it&#39;s company, and now that appears to have happened. China&#39;s biggest computer maker says it&#39;s acquired a majority stake in IBM&#39;s personal
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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 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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HONG KONG/SAN FRANCISCO  - IBM is selling its  PC-making business to China's largest personal computer  company, Lenovo Group Ltd., for $1.25 billion, marking the U.S.  firm's retreat from an industry it helped pioneer in 1981.
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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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, 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&#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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The immediate future of the computer industry -- and its biggest players -- took center stage Tuesday after IBM announced it is selling its PC business to a Chinese technology giant.
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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.