外文标题：Lenovo to buy IBM's low-end server business for $2.3bn
HONG KONG: Chinese computer giant Lenovo will buy IBM's low-end server business for $2.3 billion, giving it a platform to compete in that sector with US giants Dell and Hewlett-Packard.
IBM will receive $2.07 billion in cash and the rest in shares for the x86 business, Lenovo said, in a deal seen as helping the Chinese firm diversify away from the slumping PC-sales sector.
IBM will still provide maintenance on behalf of Lenovo, while some 7,500 members of staff worldwide will be offered employment by the Chinese company, according to Dow Jones Newswires.
The deal, announced in a statement to the Hong Kong Stock Exchange, comes after Lenovo bought the US firm's PC business for $1.75 billion in 2005, in a landmark deal that showcased Chinese companies' efforts to go overseas.
It will also allow Lenovo to compete in the server segment with Dell and Hewlett-Packard as it looks to diversify away from the personal computer market, which has seen sales slump in recent years.
Thursday's announcement comes after Lenovo and IBM resumed talks on a buy-out of the US firm's low-end server business that had broken down last year over differences in price.
Abhijit NNN (Hyd)
IBM will soon be history/... if it continues to go like that
Wow - Lenovo....wow.....!!!
Jobin Ninan (Delhi)
IBM is concentrating on Linking Genes and High End Server hardware's (I mean research) :):)) , They are fed up with Low end Hardware's :)) ,,,
Pankaj Kumar Mishra (Chandigarh)
Again Chinese Giant Lenovo entering into the market of Low End server business now become ally of US giants Dell and Hewlett-Packard. Now everyone knows the quality of Lenovo and chinese hallmark.Their must be a good prediction of competitive business in between chinese and american allies.
business is business people centric and customer oriented..
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Easwar Venkatraman (Mumbai)
Good deal for IBM.
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Good for ailing IBM.
Adhyatm (New Delhi)
wow, hope they can make business out of it- Lenovo!