Lenovo to buy IBM server unit for $2.3B

Jan 23, 2014, 12:16 PM EST
David Roman, Lenovo'd chief marketing officer, speaks as Lenovo introduces Lenovo's first multi mode tablet Yoga Tablets during Lenovo, a Chinese computer maker, press conference at Youtube Space on October 29, 2013 in Los Angeles, California.
AFP/Getty Images

 Chinese PC maker Lenovo Group agreed to buy IBM Corp's low-end server business for $2.3 billion in what is set to be China's biggest technology deal. The long-awaited acquisition comes nearly a decade after Lenovo bought IBM's loss-making ThinkPad business for $1.75 billion, eventually becoming the world leader in personal computers in 2012. The sale of the low-end server operation - which still needs U.S. government approval - would allow International Business Machines (IBM) to focus on its decade-long shift to more profitable software and services.

Background

IBM sells its x86 server business to Lenovo for $2.3 billion [CNET]

Lenovo to buy IBM's low-end server unit for $2.3 billion [Reuters]

Lenovo Bid for IBM Unit Seen Sparking U.S. Security Review (2) [Businessweek]

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