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Lenovo buys IBM's low-end server business for $2.3B


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#1 +AJerman

AJerman

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Posted 23 January 2014 - 12:44

MORRISVILLE, N.C. —In the second major deal between Lenovo and IBM (NYSE: IBM), the world's No. 1 PC manufacturer is buying Big Blue's low-end server business for $2.3 billion. Lenovo, which bought IBM's personal computer business in 2005, operates its global executive headquarters in Morrisville.
 

The latest deal was announced early Thursday.
 

Some 7,500 IBM employees are affected by the sale and are expected to be offered jobs by Lenovo, according to IBM in its press announcement.
 

Some of the server operations are located in Raleigh as well as several cities in China and Taiwan.
 

However, the deal is contingent upon government review, just as in the 2005 deal.
 

“This acquisition demonstrates our willingness to invest in businesses that can help fuel profitable growth and extend our PC Plus strategy,” said Yang Yuanqing, chairman and CEO of Lenovo. “With the right strategy, great execution, continued innovation and a clear commitment to the x86 industry, we are confident that we can grow this business successfully for the long-term, just as we have done with our worldwide PC business.”

 

WRAL Tech Wire

IBM Press Release




#2 OP +AJerman

AJerman

    Boomer Sooner!

  • 5,508 posts
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  • Location: Raleigh, NC
  • OS: Windows 8.1
  • Phone: Nexus 5

Posted 23 January 2014 - 12:50

Anyone else part of that 7,500?





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