We first got wind of Lenovo’s bid for IBMs low-end server division early this year, when the China-based company and the tech giant agreed to a $2.3 billion deal for IBM’s x86 server division.
Today, Reuters reports that the deal is set to finalize on October 1, although at a slightly lower valuation of $2.1 billion.
Lenovo claims that the final purchasing price is lower than that announced at the beginning of the year due to a change in the valuation of inventory and deferred revenue liability.
Back in January, it was estimated that the deal would boost Lenovo share to roughly 14% of the global server business, a huge jump from its current 2% share and a major asset for China’s largest PC manufacturer as it looks to target business clients.
This is expected to be the second large computing deal between Lenovo and IBM. The first was back in 2005 when Lenovo acquired IBMs PC division, including the ThinkPad and ideaPad series.
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