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Lenovo shares jump on IBM deal

2014-01-24 03:45:37| BBC News | Business | UK Edition

Shares in China's Lenovo, the world's biggest PC maker, rise after the firm agrees to buy IBM's low-end server business for $2.3bn (1.4bn).

Tags: jump deal ibm shares

 

Lenovo is buying IBM's low-end servers -- and its customers

2014-01-23 19:28:59| InfoWorld: Top News

After IBM sold its PC division to Lenovo back in 2005, it seemed likely IBM would also in time shed itself of its only marginally profitable commodity x86 server division.

Tags: its customers buying servers

 
 

Lenovo buys part of IBM server business for $2.3B

2014-01-23 17:52:41| IT Services - Topix.net

China's Lenovo Group is buying IBM's server business for $2.3 billion, expanding a product line-up dominated by PCs, tablets and smartphones.

Tags: business part server ibm

 

Lenovo in $2.3bn IBM server deal

2014-01-23 12:26:11| BBC News | Business | UK Edition

China's Lenovo - the world's biggest PC maker - buys IBM's low-end server business for $2.3bn in a long-expected deal.

Tags: server deal ibm lenovo

 

Lenovo to buy IBM x86 server business for USD 2.3 bln

2014-01-23 10:31:00| Telecompaper Headlines

(Telecompaper) Lenovo confirmed it has entered into a definitive agreement to acquire IBM's x86 server business for USD 2.3 billion. This includes System x, BladeCenter and Flex System blade servers and switches, x86-based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, blade networking and maintenance operations. The purchase price includes around USD 2 billion in cash and the remainder in Lenovo stock. IBM will retain its System z mainframes, Power Systems, Storage Systems, Power-based Flex servers, and PureApplication and PureData appliances. Lenovo already acquired IBM's PC business in 2005, helping it become the world's largest PC maker last year. With the PC market slowing, the acquisition of the server business will provide a new growth area for Lenovo. IBM plans to focus more on software and services and will continue to develop Windows and Linux software portfolio for the x86 platform. Following the closing of the transaction, IBM will continue to provide maintenance on Lenovo's behalf for an extended period of time. Approximately 7,500 IBM employees around the world will be offered employment by Lenovo as part of the deal. The takeover remains subject to regulatory approval and other closing conditions.

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