IBM to Provide Tech Support for Lenovo
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Chinese company has signed a five-year deal for customer services and support.
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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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China&#39;s personal computer giant Lenovo Group Limited Wednesday signed an agreement with IBM to take over the latter&#39;s personal computer business for 1.25 billionUS dollars.
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IBM is expected to announce Tuesday after the close of the market an historic pact to sell its $11.5 billion PC business to China PC giant Lenovo, sources said.
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Honda Motor Co., with software help from IBM, is preparing to introduce an improved speech-recognition system as standard equipment on the 2005 Acura RL sedan.
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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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IBM, the pioneer of the personal computer, is selling its PC hardware business to Chinese firm Lenovo.
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com. IBM on Monday unveiled a technology lab for customers looking to test the company&#39;s products for managing computer resources based on business demands.
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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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US computer giant IBM Corp plans to sell a substantial part of its stake in China's Lenovo, the world's third-largest personal computer group, raising up to 990 million Hong Kong dollars (127 million US).
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Not doing a runner, though Tech giant IBM has inked a licensing agreement with Lenovo that will see the Chinese computer vendor making and selling a range of x86 servers.â¦
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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&#39;s largest personal computer maker, Lenovo Group Ltd. (0992.HK: Quote, Profile, Research) , said on Wednesday it is buying control of IBM&#39;s PC-making business for $1.25
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IBM will offer a range of new services to help industrial firms respond to retail and government pressure to implement radio-frequency identification.
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SHANGHAI : China&#39;s largest manufacturer of personal computers Lenovo Group said it is in negotiations with a major information technology company, believed to be US-based IBM.
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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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Lenovo will pay $1.75 billion for IBM&#39;s PC business unit but will continue to use the IBM brand for five years. By Paul McDougall, and Darrell Dunn.