April 18 IBM Corp is in negotiations to
sell its x86 server hardware business to Chinese computer maker
Lenovo Group, technology news site CRN reported on
Thursday citing sources with knowledge of the situation.
IBM is looking for between $5 billion and $6 billion for the
business, which sells low-priced servers traditionally used to
power large corporate data centers, CRN said citing a high
ranking industry executive.
IBM Chief Financial Officer Mark Loughridge said the company
would not respond to rumors when asked about the CRN story on a
post earnings conference call.
IBM, the world's largest technology services company,
reported an increase in first-quarter earnings on Thursday, but
missed estimates due to the depreciation of the Japanese yen.
Lenovo could not be reached for comment by Reuters outside
of regular business hours.