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Lenovo to Buy IBM’s Low-End Server Business for $2.3 Billion

by CNBC

Lenovo has struck a long-awaited $2.3 billion deal to buy IBM’s low-end server business, the largest ever technology acquisition by a Chinese company.

The Chinese PC maker will pay $2.07 billion in cash and the rest in shares to be issued to IBM, according to a filing with the Hong Kong Stock Exchange on Thursday.

Read the rest of this post on the original site »

This article originally appeared on Recode.net.

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