Press releases
Lenovo to Acquire IBM Personal Computing Division
Creating New Leading PC Business with Global Market Reach
ARMONK, N.Y. and BEIJING -- Dec. 7, 2004 -- IBM and Lenovo Group Limited
Creates world's third-largest PC business with approximately US$12 billion annual revenue for 2003
Global business with worldwide reach, powerful brand name, balanced product offerings and leading R&D capabilities
Long-term strategic alliances between Lenovo and IBM in PC sales, service and financing worldwide
Worldwide headquarters in New York; principal operations in Beijing and Raleigh, North Carolina
Transaction of US$1.25 billion in cash, equity; total transaction consideration of approximately US$1.75 billion
IBM to take 18.9 percent equity stake in Lenovo; transaction expected to be completed in second quarter 2005
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http://www-1.ibm.com/press/PressServ...1.docunid=7450