Lenovo completes $1.25 billion IBM deal

Posted on Monday, May 02 2005 @ 19:38 CEST by Thomas De Maesschalck

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

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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