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Lenovo's Deal To Acquire IMB's x86 Server Business Should Close On Oct. 1st

Lenovo Group Ltd.’s acquisition of IBM’s x86 server division is set to close on October 1st for $2.1 billion. The acquisition allows Lenovo to better compete with U.S. rivals for business clients. A change in valuation, of inventory and deferred revenue liability brought down the price from the initial $2.3 billion offer. About $1.8 billion will be paid in cash and the rest in stock. Lenovo CEO Yang Yuanqing said, “In the large and medium enterprise space we can now fully leverage IBM technology to compete with brands like HP and Dell.”