Cleary Gottlieb is representing Lenovo Group Limited in its acquisition of the x86 server hardware and related maintenance services business of International Business Machines Corporation. The purchase price is approximately $2.3 billion dollars, $2.070 billion of which will be paid in cash and the balance in Lenovo stock.
Lenovo is the largest PC maker worldwide, serving customers in more than 160 countries. Lenovo, a global Fortune 500 company, has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina.