Chinese firm buys IBM&#39;s PC business
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China&#39;s largest manufacturer of personal computers, Lenovo Group, has bought IBM&#39;s PC business for $1.25 billion, making it the world&#39;s number three in the sector.
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IBM yesterday sold its personal computer business to China&#39;s leading manufacturer, Lenovo, in a deal that reflects the profound changes taking place in the economic world order and marks the end of an era for one of America&#39;s most iconic companies.
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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 comes amid reports it might buy IBM Corp.'s personal computer business.
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China&#39;s biggest computer maker says it has acquired a majority stake in IBM&#39;s personal computer business. The 1.75- billion-dollar deal is one of the biggest Chinese overseas acquisitions ever.
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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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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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Lenovo&#39;s purchase of IBM&#39;s PC business is such an unprecedented coup for a Chinese technology company that even some local journalists joined the cheers when it was announced on Wednesday.
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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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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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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. And it is emblematic
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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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IBM&#39;s decision this past week to sell a majority stake in its personal computer business to Lenovo Group, a vendor based in China, for $1.75 billion in cash, stock, and debt assumption, is
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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 deal makes the Chinese company the world&#39;s third biggest PC maker and pushes IBM to the sidelines of a field it once ruled.
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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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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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BEIJING - China&#39;s biggest computer maker, Lenovo Group Ltd., said late yesterday that it has acquired a majority stake in IBM Corp.