Chinese Firm To Buy IBM&#39;s PC Business For $1.75 Billion
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BEIJING -- China&#39;s biggest computer maker said it has acquired a majority stake in IBM&#39;s personal computer business for $1.75 billion dollars in one of the biggest Chinese overseas acquisitions ever.
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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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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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IBM has reached an agreement in principle to sell its personal computer business to Lenovo, China&#39;s largest PC maker, in a deal valued at between $1 billion and $2 billion, people close to the negotiations said Monday.
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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 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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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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Lenovo Group said Wednesday it has acquired a majority stake in International Business Machines Corp.'s personal computer business for $1.25 billion, one of the biggest Chinese overseas acquisitions ever.
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BEIJING/SAN FRANCISCO  - 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 $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, 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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Squeezed at home, China&#39;s biggest computer maker, Lenovo, is buying IBM&#39;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  company, Lenovo Group Ltd., for $1.25 billion, marking the U.S.  company's retreat from an industry it helped pioneer in 1981.
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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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China's biggest computer maker, Lenovo Group, said today it has acquired a majority stake in International Business Machines Corp.'s personal computer business for $1.25 billion, one of the biggest Chinese overseas acquisitions ever.
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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 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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idril writes &quot;According to The New York Times (free registration required), China&#39;s largest PC maker is reportedly in talks to buy IBM&#39;s PC business.