IBM Deal Puts Lenovo on Global Stage
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When it began two decades ago, the company now known as Lenovo Group Ltd. was little more than a glorified delivery service, a venture launched by academic researchers in Beijing who earned cash by distributing personal computers built by prominent brands in faraway countries.
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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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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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IBM is selling its PC-making business to China's largest personal computer maker, Lenovo Group Ltd., for &#36;1.25 billion, marking the U.S. giant's retreat from an industry it helped pioneer in 1981.
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As was widely expected, Armonk, NY-based IBM and Lenovo also said they will enter a strategic alliance and IBM will hold a minority stake, at 18.9%, in the Beijing-based company.
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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/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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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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IBM (NYSE: IBM) today announced that it has reached an agreement with  the U.S.
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China's largest PC company and IBM are developing plans to export Lenovo's product lines around the world after the merger is complete.
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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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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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&quot;On behalf of the Board of the Lenovo Directors I am honored to announced to the world that Lenovo Group has bought IBM&#39;s PC division for US$1.25 billion.
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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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HONG KONG/SAN FRANCISCO  - China'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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Chinese computer giant, Lenovo is attempting to take over global information technology giant IBM Corporation&#39;s personal computer business operations, media reports said in Beijing on Tuesday.