IBM Gets Regulatory Blessing for Sale of Server Business to Lenovo
IBM today announced that it had received final regulatory approval for the sale of its server business to Lenovo.
According to a statement on the company's website, the Committee on Foreign Investment in the United States (CFIUS) has finished its review of the divestiture of IBM's x86-based server business to Lenovo.
Lenovo Group is paying $2.3 billion for IBM's server business to expand a product line which is otherwise dominated by PCs, tablets and smartphones.
Lenovo has said that it expects to offer jobs to 7,500 IBM employees.