The Chinese PC vendor that just cant stop growing has today added another component to its expanding empire by agreeing to buy IBMs x86 server business for $2.3 billion. Initially rumored almost a year ago, the price of this deal is below the expected range, with IBM apparently keen to offload what Lenovo believes is a business that it can successfully grow for the long-term. Though it lacks the consumer-facing impact of Lenovos first big deal with IBM — the acquisition of the ThinkPad brand and line of personal computers — this move underscores Lenovos ambition to continue expanding rapidly. The company will continue developing Windows and Linux software for the x86 platform, but the hardware component will soon be handed off to Lenovo in exchange for $2 billion in cash and the rest in Lenovo shares.
First ThinkPads, now servers: Lenovo buys more of IBM for $2.3 billion
23
Jan
2014
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