Lenovo to carve up IBM PC empire
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Healthy or unhealthy, this national dependence on the web has happened in the 10 short years since IBM targeted the domestic consumer with PCs powerful enough to connect with the web.
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China's biggest computer maker, Lenovo Group, said today it has acquired a majority stake in International Business Machines Corp.'s personal computer business for $1.25 billion, one of the biggest Chinese overseas acquisitions ever.
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Lenovo Group Ltd.&#39;s purchase of IBM Corp.&#39;s PC business solves problems for both companies, but it also could benefit their rivals, at least in the short term.
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Lenovo Group&#39;s takeover of IBM&#39;s personal computer business is a giant step in a multibillion-dollar foreign expansion by China, which is buying auto, television and telecommunications companies abroad.
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Lenovo&#39;s planned acquisition of IBM&#39;s personal computing division is expected to see 180 employees in Australia and 10 in New Zealand transition to the Chinese company, IBM Australia officials said today.
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IBM is selling its PC-making business to China's largest personal computer company, Lenovo Group Ltd., for &#36;1.25 billion, marking the U.S. company's retreat from an industry it helped pioneer in 1981.
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China's largest personal computer maker, Lenovo Group Ltd. (0992.HK), said on Wednesday it is buying control of IBM's PC-making business for &#36;1.25 billion, capping the U.S. tech giant's gradual withdrawal from the business it helped pioneer in 1981.
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Ziff Davis - IBM's decision to sell its PC business to Chinese computer maker Lenovo Group Ltd. is offering lessons both in how to expand into emerging markets and how federal regulators will view such deals.
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TOKYO - China's Lenovo Group Ltd. signed a definitive agreement on Wednesday to acquire IBM Corp.'s personal computing division. Lenovo will pay US$1.25 billion in cash for the business, which is expected to transform it into the world's number three PC maker, the companies announced.
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IBM, the pioneer of the personal computer, is selling its PC hardware business to number one Chinese computer maker Lenovo.
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Lenovo Group Ltd. will purchase IBMâs personal computer business for $1.25 billion including $650 million in cash and $600 million in stock plus $500 million of debt assumption.
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A Chinese company has become the third largest PC seller in the world by buying IBM&#39;s personal computer business. Lenovo has bought the business for USD 1.25 billion, of which USD650m is in cash and the rest in Lenovo shares.
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After agreeing to sell its PC division to China's Lenovo Group, IBM now faces the task of keeping its corporate and government customers from abandoning its standard-setting brand.
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BEIJING - China&#39;s largest personal computer maker, Lenovo Group Ltd, announced on Wednesday that it is buying control of IBM&#39;s PC-making business for US$1.25 billion, capping the US tech giant&#39;s gradual withdrawal from the business it helped pioneer in
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Chinese computer giant, Lenovo is attempting to take over global information technology giant IBM Corporation&#39;s personal computer business operations, media reports said in Beijing on Tuesday.
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From the introduction of its first PC in 1981 to this week&#39;s sale of its PC business to Lenovo of China for about $1.75 billion in cash, IBM has had a quite a few milestones in the PC industry.
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Lenovo announced its intent to jump into the server business by licensing x86 server technology from IBM.