Lenovo partners with EMC

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Lenovo partners with EMC 
Lenovo and EMC Corporation have announced a broad partnership. In the joint venture, Lenovo will contribute cash, while EMC will contribute certain assets and resources of Iomega. Upon closing, Lenovo will hold a majority interest in the new joint venture. During and after the transition from independent operations to the joint venture, customers will experience continuity of service, product delivery and warranty fulfilment.  The joint venture is subject to customary closing procedures including regulatory approvals and is expected to close by the end of 2012.
Yuanqing Yang, Chairman & CEO, Lenovo, said, "This announcement with industry leader EMC is another solid step in our journey to build on our foundation in PCs and become a leader in the new PC-plus era. This partnership will help us fully deliver on our PC-plus strategy by giving us strong back-end capabilities and business foundation in servers and storage, in addition to our already strong position in devices. EMC is the perfect partner to help us fully realize the PC-plus opportunity in the long term."
Joe Tucci, Chairman & CEO, EMC, said, "The relationship with Lenovo represents a powerful opportunity for EMC to significantly expand our presence in China, a vibrant and very important market, and extend it to other parts of the world over time. Lenovo has clearly demonstrated its ability to apply its considerable resources and expertise not only to enter, but to lead major market segments. We are excited to partner with Lenovo as we focus our combined energies serving a broader range of customers with industry-leading storage and server solutions."

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