Jan 22 Lenovo Group is close to an
agreement to buy International Business Machines Corp's
low-end server business, according to two people who are
familiar with the matter.
A deal could come as soon as Thursday if all details are
finalized, one person said.
While the exact price could not be determined, Lenovo is
expected to pay less than $2.5 billion for the unit, the sources
The timing of the deal was first reported by the Wall Street
Journal, citing sources.
Reuters had reported on Tuesday that Lenovo had restarted
talks to buy IBM's x86 server business after failing to reach an
agreement last year following differences on pricing.
Lenovo said on Monday that it was in negotiations with a
third party regarding a potential acquisition but stated that no
material terms of the deal had been agreed upon.
Recent reports have also indicated that Fujitsu Ltd
and Dell Inc are also potentially interested in buying the
server unit, which powers corporate data centers.