Lenovo acquires IBM's x86 Server Biz for $2.3 billion

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Lenovo acquires IBM's x86 Server Biz for $2.3 billion 
Lenovo(HKSE: 992) (ADR: LNVGY) and IBM(NYSE:IBM) have reportedly entered into a definitive agreement in which Lenovo plans to acquireIBM’s x86 server business. This includes System x, BladeCenter and Flex System blade servers and switches, x86-based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, networking and maintenance operations. The purchase price is approximately US$2.3 billion, approximately two billion of which will be paid in cash and the balance in Lenovo stock.
IBM will continue to develop and evolve its Windows and Linux software portfolio for the x86 platform.  Lenovo and IBM plan to enter into a strategic relationship which will include a global OEM and reseller agreement for sales of IBM’s midrange Storwize disk storage systems, tape storage systems, General Parallel File System software, SmartCloud Entry offering, and elements of IBM’s system software portfolio.
Yang Yuanqing, Chairman and CEO, Lenovo commented, “This acquisition demonstrates our willingness to invest in businesses that can help fuel profitable growth and extend our PC Plus strategy. We are confident that we can grow this business successfully for the long-term, just as we have done with our worldwide PC business.”
“This divestiture allows IBM to focus on system and software innovations that bring new kinds of value to strategic areas of our business, such as cognitive computing, Big Data and cloud,” said Steve Mills, Senior Vice President and Group Executive, IBM Software and Systems.
Moreover, approximately 7,500 IBM employees around the world, including those based at major locations........See More

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