Lenovo in $2.3 Billion Acquisition of x86 Server Business from IBM

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.