Chinese Buyer of PC Unit Is Moving to I.B.M.'s Hometown
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China's largest computer maker, which purchased I.B.M's personal computer business, is moving its headquarters to New York.
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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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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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ALMHULT, Sweden  - The design chief of home  furnishing giant IKEA was recently asked in China, now home to  two of the blue and yellow warehouses selling the Scandinavian  lifestyle, if he was worried about being a "design  imperialist."
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Dec. 3--NEW YORK -- International Business Machines Corp. is negotiating with Lenovo Group Ltd. to sell its personal computer business to China&#39;s largest PC maker, the New York Times reported Friday.
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I.B.M. announced the sale of its personal computer business to Lenovo, a deal that reflects the ambitions of not only the two companies but also their two nations.
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International Business Machines Corp. has reportedly put its personal computer business up for sale in a deal that could fetch as much as &#36;2 billion and close an era for an industry pioneer which long ago shifted its focus to more lucrative segments of the computer business.
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China's biggest computer maker, Lenovo Group, said Wednesday it has acquired a majority stake in International Business Machines Corp.'s personal computer business for &#36;1.75 billion, one of the biggest Chinese overseas acquisitions ever.
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B&Q's owner is to sell its DIY stores in Taiwan to focus on its fast-growing business in China.
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By Womack, Brian  A couple of local computer industry veteransLap Shun "John" Hui and Wayne Inouye-may come out of retirement to take on Europe.  Hui, who sold eMachines Inc. to Irvine-based Gateway Inc.
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IBM is discussing selling its PC business to Lenovo Group Ltd., China's largest maker of personal computers, and at least one other potential buyer, according to The New York Times.
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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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The PC company will sell a unit targeting education, midsized sized business, and government users.
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Storage hardware vendor Iomega has signed a deal to buy sister hardware vendors indirectly owned by the Chinese government in an effort to expand the company&#39;s product line.Iomega will purchase ExcelStor Great Wall Technology, a Cayman Islands company, and Shenzhen ExcelStor Technology, a Chinese company, in a stock deal expected to close in mid-2008, said Thomas Kampfer, Iomega president and chief operating officer. The deal would nearly quadruple the size of Iomega with its revenue going from $300 million a year to about $1.1 billion a year, and the number of employees growing from less than 300 to about 3,000, Kampfer said.ExcelStor has built Iomega&#39;s Rev removable hard drive products since 2004, and more recently, it has built Iomega-branded USB hard drives, Kampfer said. The acquisition will help Iomega branch out into new products, he said, although the company isn&#39;t yet announcing what new products it&#39;s looking at.&quot;For quite some time ... we&#39;ve felt that we have a really great brand,&quot; Kampfer said. &quot;We&#39;ve been searching for ways to expand our product line and gain access to more products, to move ourselves beyond external storage. We haven&#39;t had the resources -- we haven&#39;t had the development resources, we haven&#39;t had the marketing resources. We just aren&#39;t big enough.&quot;In the deal, Iomega will issue about 84 million shares of its stock, worth about $139 million, in exchange for all outstanding ExcelStor shares. The deal would be one of the first times a U.S. company has acquired a company owned by the Chinese government, according to Iomega.The boards of directors at both Iomega and ExcelStor have approved the deal. The purchase must be approved by the Chinese government and shareholders.ExcelStor, which produces more than 20 million devices a year, designs and manufactures digital storage hardware, including hard drives and security storage products. The company sells its products under its own brand and also to original equipment manufacturers.In 2006, ExcelStor had revenue of $707.1 million, according to Iomega.ExcelStor is a subsidiary of Great Wall Technology Co. (GWT), a publicly traded company that manufactures computers and creates software and related products. GWT is an indirect subsidiary of China Electronics Corp., which is owned by the Chinese government.After the deal is completed, GWT and its affiliates will own about 43 percent of Iomega&#39;s stock, making GWT its largest shareholder. China Electronics indirectly owns 62 percent of GWT.Jonathan Huberman will continue as CEO of Iomega, and Kampfer will remain as president and COO, the company said. Eddie Lui, currently CEO of ExcelStor, will become executive chairman of Iomega.&#160;
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IBM, which pioneered the personal computer business in the 1980s, is said to be negotiating the sale of its PC unit in a move that could reshape the industry.
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International Business Machines Corp. agreed to sell its personal computing business to China&#39;s largest computer maker, Lenovo Group Ltd.
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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.