Lenovo Completes Acquisition Of IBM’s Personal Computing Division

Lenovo Completes Acquisition Of IBM’s Personal Computing Division

Lenovo Group Limited and IBM today announced the closing of the acquisition of IBM’s Personal Computing Division by Lenovo, creating a new international IT competitor and the third-largest personal computing company in the world.

“The closing of this transaction is an historic event for Lenovo and marks a new era for the global PC industry,” said Yuanqing Yang, chairman of Lenovo. “The new Lenovo’s strategy is based on what our customers want: high-quality products and world-class service. We are committed to delivering the highest quality, most innovative PC products and services to our customers, to providing the best working environment for our employees, and to creating value for our shareholders.”

“Lenovo is well-positioned, with competitive strengths in branding, world-class scale and industry-leading efficiency,” said Stephen M. Ward, Jr., chief executive officer of Lenovo. “Lenovo’s leading R&D and product differentiation capabilities, experienced management team and global distribution network – through our unique alliance with IBM – give us a powerful competitive position in global markets. Within weeks, we will be introducing new products as the new Lenovo.”

The company’s strengths include global brand recognition, through the combination of the highly regarded “Think” brand notebook franchise and Lenovo’s leading brand recognition in China, enhanced service and support for consumers and enterprise clients, and consumer strength and market leadership in China, the world’s fastest growing IT market. Lenovo has one-third of the emerging China PC market and leading shares in enterprise PC markets around the world.

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