Utah People's Post

The Latest News from the Beehive State

Monday, June 27, 2022
Log in
  • National News
    • Female Caseworker Killed & Doctor Shot in Philadelphia
  • State News
    • Car Chase Leads to Drug Arrest
  • Tech & Science
  • Health
    • How to Prepare For Ticks Season
    • Magical Weight Loss Bean Scam
  • Sports
  • Business
You are here: Home / Business / IBM Server Sale to Lenovo Approved by U.S. Regulatory

IBM Server Sale to Lenovo Approved by U.S. Regulatory

August 17, 2014 Posted by Editor

Last month, the Chinese signed off a deal with IBM. Based on it, IBM can sell its X86-based server business. The company has finally received the green light from the Committee on Foreign Investment in the U.S., and the sale of IBM’s low-end server division to Lenovo will soon be complete.

The China-based company is investing 2.3$ billion for the X86-based business. This deal may very well be the biggest technology one in China’s history of state-owned companies.

lenovo-1

“Lenovo can confirm reports that CFIUS has cleared its transaction to acquire IBM’s x86 server business and the companies have completed the regulatory process in the United States” – Lenovo spokesperson

At present, many U.S. companies are under scrutiny by Chinese regulators. China has many anti-trust concerns and one by one it is tacking U.S. tech firms of its procurement list. In addition to this, there are reports of increasing tension of cybersecurity worries from China due to federal agency activity within U.S. tech companies.

In other words, the new deal is excellent news for IBM and Lenovo. First of all, it gives Lenovo a bigger share of hardware market and better footprint in global computing. Secondly, IBM will finally have the opportunity to focus on high-end strategic missions (example: moving into the healthcare sector if they secure a partnership with Apple or data analytic efforts).

“This is part of IBM’s process moving away from hardware manufacturing to a more service-oriented product line and more profitable product lines (…) They are trying to change the direction they are going.” – Ivan Feinseth, chief investment officer for Tigress Financial Partners LLC 

In other news, Lenovo is still waiting for approval on its latest deal to purchase the Motorola Mobility business from Google. This is a acquisition of approximately 2.91 billion dollars that is still being reviewed by national security agencies.

“We continue to work through a number of regulatory and business processes to ensure an effective and timely closure on both deals (…) We remain on track to close both deals by the end of the year.” – Lenovo 

Lenovo’s current headquarters can be found in Beijing as well as Morrisville, North Carolina

When Lenovo CEO, Yang Yuanqing signed off on the Lenovo-IBM deal he did not expect to have approval problems with the U.S. government, especially seeing as it has been a long time client of the company. He also hoped that the deal will be completely finalized before the end of the year. It seems that his wish came true, and the acquisition was finalized.

Share this:

  • Tweet
  • Share on Tumblr
  • Email

Filed Under: Business Tagged With: Chinese tech companies, IBM, IBM Server Sale to Lenovo, Lenovo, Lenovo IBM deal, U.S. tech companies

Woman working out at the gym

Just 23% of Americans Are Working Out Enough in Their Spare Time

June 29, 2018 By Amelia Donovan

Poliovirus Therapy Gives Brain Cancer Patients New Hope (Study)

June 29, 2018 By Amelia Donovan

United Airlines airplane

Passenger Mysteriously Dies on United Airlines flight Bound for Boston

June 28, 2018 By Amelia Donovan

Breakfast sandwich

Here Are Some Foods No Nutritionist Would Ever Eat

June 27, 2018 By Amelia Donovan

Poppy flower

UN Warns of Surge in Opium-based Drugs and Cocaine Supply

June 27, 2018 By Amelia Donovan

U.S.-Canada border

French Jogger Detained 2 Weeks for Accidentally Crossing Border

June 26, 2018 By Amelia Donovan

Plus size model

Normalizing Plus Size Could Fuel Obesity Crisis (Study)

June 25, 2018 By Amelia Donovan

Giant manta ray

Unique Manta Ray Nursery Spotted off Texas Coast

June 23, 2018 By Amelia Donovan

The rainbow flag

WHO Scraps Transgenderism from List of Mental Illnesses

June 22, 2018 By Amelia Donovan

456 People Dead at U.K. Hospital after Taking too Many Painkillers

June 21, 2018 By Amelia Donovan

Kenyan girls dancing

Kenyans Facing Poor Nutrition as Supermarket Shopping Is on the Rise

June 20, 2018 By Amelia Donovan

Pages

  • About
  • Contact
  • Privacy Policy GDPR
  • Staff
  • Terms and Conditions

Recent Posts

  • Just 23% of Americans Are Working Out Enough in Their Spare Time
  • Poliovirus Therapy Gives Brain Cancer Patients New Hope (Study)
  • Passenger Mysteriously Dies on United Airlines flight Bound for Boston
  • Here Are Some Foods No Nutritionist Would Ever Eat
  • UN Warns of Surge in Opium-based Drugs and Cocaine Supply
  • French Jogger Detained 2 Weeks for Accidentally Crossing Border
  • Normalizing Plus Size Could Fuel Obesity Crisis (Study)

Related Articles

  • Passenger Mysteriously Dies on United Airlines flight Bound for Boston

    Jun 28, 2018
  • Fishing boat in the Atlantic Ocean

    U.S. Seafood Dealer Lied About Fish Being Caught in U.S.

    Jun 14, 2018
  • Tesla car on the road

    Tesla’s Autopilot Software To ‘Nag’ Drivers to Keep Hands on Wheel

    Jun 12, 2018
  • Mexico Slaps Tariffs on U.S. Steel, Pork, and Bourbon

    Jun 6, 2018
  • Dairy cows on a pasture

    Kentucky Milk Plant Closes after Losing Contract with Walmart

    Jun 4, 2018
  • Tesla founder Elon Musk

    Elon Musk Upset About Latest Tesla Crash Being ‘Front Page News’

    May 16, 2018
  • Orange juice bottles on Whole Foods shelves

    Amazon to Roll Out New Prime Perks for Whole Foods Shoppers

    May 2, 2018
  • U.S. Liquor Store

    Alcohol Sales on Sunday No Longer Banned in Indiana

    Mar 5, 2018
  • Bitcoin coins on 100-dollar bills

    Iran Unveils Its First National Cryptocurrency

    Feb 23, 2018
  • Transavia Airlines plane taking off

    Man on Plane who Wouldn’t Stop Farting Causes Emergency Landing

    Feb 19, 2018

Categories

  • Business
  • Entertainment
  • Health
  • National News
  • Nature
  • Provo
  • Salt Lake News
  • Science
  • Sports
  • State News
  • Tech & Science
  • Technology
  • Uncategorized
  • West Jordan
  • West Valley City
  • World

Copyright © 2022 utahpeoplespost.com

About · Privacy Policy · Terms of Use · Site Map · Contact