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Lenovo to buy IBM’s low-end server unit for $2.3 billion

24
Jan
2014

Chinese PC maker Lenovo Group Ltd has agreed to buy International Business Machine Corps low-end server business for $2.3 billion in what would be Chinas biggest technology deal. The long-expected acquisition comes nearly a decade after Lenovo bought IBMs money-losing ThinkPad business for $1.75 billion, eventually becoming the world leader in personal computers in 2012. The deal would increase Lenovos share in the server market to 14 percent from 2 percent, said Peter Hortensius, a senior vice-president at Lenovo. The deal needs clearance from the Committee on Foreign Investment in the United States (CFIUS), which protects U.S. national security.

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