Lenovo
confirmed it has entered into a definitive agreement to acquire IBM's x86
server business for $2.3 billion.
It includes
System x, BladeCenter and Flex System blade servers and switches, x86-based
Flex integrated systems, NeXtScale and iDataPlex servers and associated
software, blade networking and maintenance operations. The purchase price
includes around $2 billion in cash and the remainder in Lenovo stock. IBM will
retain its System z mainframes, Power Systems, Storage Systems, Power-based
Flex servers, and PureApplication and PureData appliances.
Lenovo already acquired IBM's PC business in 2005, helping it
become the world's largest PC maker last year. With the PC market slowing, the
acquisition of the server business will provide a new growth area for Lenovo.
IBM plans to focus more on software and services and will continue to develop
Windows and Linux software portfolio for the x86 platform.
In addition, an OEM and reseller agreement will see Lenovo offer
IBM's entry and midrange Storwize disk storage systems, tape storage systems,
General Parallel File System software, SmartCloud Entry offering, and certain
system software, including Systems Director and Platform Computing
products.
Following the closing of
the transaction, IBM will continue to provide maintenance on Lenovo’s behalf
for an extended period of time. Approximately 7,500 IBM employees around the
world will be offered employment by Lenovo as part of the deal. The takeover
remains subject to regulatory approval and other closing conditions. 
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