IBM sold its personal computer division, including the ThinkPad laptop brand it had built since 1992, to China's Lenovo Group for 1.75 billion dollars in a deal completed in May 2005. The sale let IBM exit a low-margin hardware business to focus on higher-margin services, software and consulting, while it propelled Lenovo to become one of the world's largest PC makers almost overnight. This description is adapted from Wikipedia contributors under CC BY-SA 4.0; changes were made. https://creativecommons.org/licenses/by-sa/4.0/
Facts
Event TypeDivestiture (business unit sale) 1 Connections
Associated With
Source Wikipedia, Lenovo Acquisition of IBM PC Division
Companies Involved
Source Wikipedia, Lenovo Acquisition of IBM PC Division
Source Wikipedia, Lenovo Acquisition of IBM PC Division
Sources
1. Wikipedia, Lenovo Acquisition of IBM PC Division
WikipediaHistory section, IBM PC acquisition paragraph
After the company rebranded itself to Lenovo, it merged with IBM's PC business which produced its ThinkPad line in 2005, after which it rapidly expanded abroad.
- Associated With: IBM
- Companies Involved: IBM
- Companies Involved: Lenovo Group Limited
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