Industry analysts gave their blessing to Lenovo’s deal for IBM’s PC business, finalized this week, indicating that the Chinese company will gain access to the U.S. market while IBM trades a low-profit business division for its own access to China, heralded as the world’s fastest growing IT market. Lenovo announced its US$1.5 billion deal for IBM’s PC business — consisting of $650 million in cash and $600 million in Lenovo shares — had closed, making it the third largest PC maker in the world with estimated annual revenue of about $13 billion. The deal was first announced last December.
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Lenovo Finalizes Purchase of IBM’s PC Business
Posted by: Jay Lyman May 2, 2005 12:18 PMIndustry analysts gave their blessing to Lenovo’s deal for IBM’s PC business, finalized this week, indicating that the Chinese company will gain access to the U.S. market while IBM trades a low-profit business division for its own access to China, heralded as the world’s fastest growing IT market. Lenovo announced its US$1.5 billion deal for IBM’s PC business — consisting of $650 million in cash and $600 million in Lenovo shares — had closed, making it the third largest PC maker in the world with estimated annual revenue of about $13 billion. The deal was first announced last December.