IBM Sells PC Unit to China’s Lenovo

From Reuters: “China’s largest personal computer maker, Lenovo Group Ltd. (0992.HK: Quote ,Profile ,Research ) , said on Wednesday it is buying control of ’s PC-making business for $1.25 billion, capping the U.S. tech giant’s gradual withdrawal from the business it helped pioneer in 1981.

The agreement, which forms the world’s third largest PC business, calls for Lenovo to pay IBM $650 million in cash, $600 million in Lenovo Group common stock and for Lenovo to assume $500 million in net balance sheet liabilities from IBM. ”

Categories :

Tags :

Tweets

SUPPORT CDT

Google Ads 1

CDT EBOOKS

Giving Assistant

Amazon Smile

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.