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Lenovo to close USD 2.1 bn IBM server deal on October 1

The closing purchase price is lower than the $2.3 billion valuation announced in January because of a change in the valuation of inventory and deferred revenue liability.

Gerry Shih   Beijing     Last Updated: September 29, 2014  | 11:47 IST
Lenovo to close USD 2.1 bn IBM server deal on October 1
(Photo: Reuters)

Lenovo Group will close its acquisition of International Business Machines (IBM) Corp's x86 server division on October 1 for $2.1 billion.

The deal will give China's biggest personal computer maker a major asset as it expands its offerings for business clients.

The closing purchase price is lower than the $2.3 billion valuation announced in January because of a change in the valuation of inventory and deferred revenue liability, Lenovo said.

(Reuters)

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