Chinese Computer Maker Acquires IBM
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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'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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The largest computer company in China, the Lenovo Group, has bought a majority stake in the PC-making business of the multinational IBM.
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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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In detailing its agreement to acquire IBM's personal computing division, China's Lenovo Group revealed data about growing warranty costs for Big Blue's PC business, and in doing so raised questions about quality control issues.
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Lenovo Group Limited, a Personal Computer brand in China and across Asia has announced a definitive agreement under which Lenovo will acquire IBM&#39;s Personal Computing Division to form the world&#39;s third-largest PC business, bringing IBM&#39;s enterprise-class
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IBM Corp. is selling its personal computer business to China&#39;s largest PC maker in a $1.25 billion deal that marks the end of an era for the company that made &quot;PC&quot; a household word.
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China's largest manufacturer of personal computers Lenovo Group said it has bought IBM's PC business for 1.25 billion dollars, making it the world's number three in the intensely competitive field.
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Hong Kong, December 7: China&#39;s largest personal computer maker, Lenovo Group Ltd, could announce as early as Tuesday that it is buying control of IBM&#39;s PC-making business for up to US$2 billion, a source familiar with the situation said.
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IBM , the world's largest  information-technology company, on Wednesday said it agreed to  buy Internet Security Systems Inc.  for $1.3 billion,  continuing an acquisition drive to fuel growth.
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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 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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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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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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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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IBM's sale of its PC unit to a Chinese firm is the latest sign that a new giant is rising.
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Lenovo Group&#39;s takeover of IBM&#39;s personal computer business is a giant step in a multibillion-dollar foreign expansion by China, which is buying auto, television and telecommunications companies abroad.