Scalper1 News
IBM (IBM) announced Thursday an agreement to sell its low-end hardware server business to China’s Lenovo for $2.3 billion, a move that could put pressure on Hewlett-Packard (HPQ). Lenovo will acquire IBM’s x86 server business, which generated about $4.68 billion in sales in 2013. IBM is selling the business for $2.07 billion in cash and the rest in Lenovo stock. Lenovo is traded on the Hong Kong Stock Exchange and also over-the-counter in the U.S. Scalper1 News
Scalper1 News