China&#39;s Lenovo to buy IBM&#39;s PC business
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Lenovo will pay $1.25bn (Â£647m) in cash for the business, which is expected to transform it into the world&#39;s number three PC maker.
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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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DECEMBER 07, 2004 (REUTERS) - China&#39;s largest PC maker, Lenovo Group Ltd., could announce as early as today that it is buying control of IBM&#39;s PC-making business for up to $2 billion, a source familiar with the situation said.
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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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US technology giant IBM is selling its personal computing business to China&#39;s biggest PC maker. The deal highlights China&#39;s growing economic clout and global reach.
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Lenovo, China&#39;s largest personal computer maker, will pay US$1.75 billion (HK$13.65 billion) in cash, stock and assumed debt for IBM&#39;s struggling PC operations in a move that will make it the world&#39;s third-biggest PC manufacturer and fulfil its long-held
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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.
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China's largest PC maker could announce as early as today that it is buying control of IBM's PC-making business for up to $2 billion.
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In a highly anticipated announcement, IBM (Quote, Chart) confirmed late Tuesday it is selling its PC division to China&#39;s Lenovo Group.
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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 &#36;1.25 billion, capping the U.S. tech giant's gradual withdrawal from the business it helped pioneer in 1981.
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Lenovo Group Ltd. will purchase IBMâs personal computer business for $1.25 billion including $650 million in cash and $600 million in stock plus $500 million of debt assumption.
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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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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.
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IBM is selling its PC-making business to China's largest personal computer company, Lenovo Group Ltd., for &#36;1.25 billion, marking the U.S. company'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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IBM and Lenovo Group plan to create a new US personal computer company that would own IBM&#39;s PC business, according to a report published Tuesday.
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BEIJING/SAN FRANCISCO  - IBM is selling its  PC-making business to China's largest personal computer maker,  Lenovo Group Ltd., for $1.25 billion, marking the U.S. giant's  retreat from an industry it helped pioneer in 1981.