IBM Obtains U.S. Approval for Sale of Server Business to Lenovo
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International Business Machines Corp. cleared a U.S. national-security review for the sale of its low-end server business to China’s Lenovo Group Ltd., letting the $2.3 billion transaction go forward even amid tensions between the two nations.
The conclusion of the review by the Committee on Foreign Investment in the U.S., or Cfius, is “good news for both IBM and Lenovo, and for our customers and employees,” Armonk, New York-based IBM said yesterday in a statement. While Cfius placed some conditions on the deal, they don’t significantly affect the business, and terms of the transaction didn’t change as result, a person with knowledge of the matter said, without specifying the conditions.