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Lenovo completes $1.25 billion IBM deal

Posted on Monday, May 02 2005 @ 19:38:36 CEST by


Lenovo Group yesterday announced the completion of the $1.25 billion acquisition of IBM's personal computing division, making the Chinese PC maker world's third largest PC manufacturer.
In a statement, Lenovo chairman Yuanqing Yang said the deal "marks a new era for the global PC industry" and promised to deliver "high-quality products and world-class service." Bolstered by IBM's customer base, Lenovo, going forward, expects to post annual revenue of about $13 billion.
More details aboutthe IBM Lenovo deal at InformationWeek


 



 

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