Chinese Firm Buys the IBM PC Division

World | December 8, 2004, Wednesday // 00:00

China's number one computer maker Lenovo has bought IBM's PC hardware division, it was announced on Wednesday. IBM will receive USD 650 M, together with an 18.9% stake in Lenovo worth USD 600 M. As a result of the deal, the Chinese firm will relocate its PC business headquarters from Beijing to New York where IBM is based.

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