Lenovo completes acquisition of IBM’s PC business

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Lenovo completes acquisition of IBM's PC business

Lenovo Group and IBM today announced the closing of the acquisition of IBM’s Personal Computing Division by Lenovo, creating the world’s third-largest personal computing company.

Under the terms of the transaction, Lenovo has paid IBM $1.25 billion, comprised of approximately US$650 million in cash and US$600 million in Lenovo Group shares. IBM’s ownership in Lenovo upon closing is 18.9 percent. Additionally, Lenovo will assume approximately US$500 million of net balance sheet liabilities from IBM. (THG)