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Going, Going, Gone: IBM Sells PC Group To Lenovo

Posted by ryuzaki0 on from the that-is-a-horrible-name dept.

It was rumored before, but now, as Rick Zeman writes, "It's official: According to news.com, IBM has sold their PC business in a complex arrangement where, 'under the deal, IBM will keep an 18.9 percent stake in Levono. Lenovo will pay $1.25 billion for the IBM PC unit and assume debt, which will bring the total cost to $1.75 billion. Lenovo will pay roughtly $650 million in cash and $600 million in securities.' Plus, Lenovo will be able to use the IBM and Think names for 5 years."

1 of 576 comments (clear)

  1. Re:Down with Big Brother! by Malor · · Score: 1, Troll

    In 1984, we were sure Apple would wreck IBM. They told us so in the Superbowl!

    In 1994, we were sure that IBM would wreck Apple.

    In 2004, we now realize that we were smarter 20 years ago than 10. :-)

    (and yes, I realize that IBM isn't 'wrecked', but it is very, very amusing that the ever-dying Apple outlasted IBM in the personal computer market. :) )