16 October 2018

Lenovo to buy IBM server unit for US$2.5 bln, Reuters says

Lenovo Group Ltd. (00992.HK) is near an agreement to buy International Business Machines Corp.’s (IBM) low-end server business for about US$2.5 billion as the world’s biggest personal computer maker is seeking new revenue streams to counter shrinking PC sales, Reuters news agency reported Thursday. The deal could be announced as soon as Thursday, the report said, adding that there were no comments from both IBM and Lenovo. Shares of Lenovo were suspended from trading Thursday pending an announcement, according to a regulatory filing.

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