Lenovo to close IBM server deal

Lenovo Group Ltd will close its acquisition of International Business Machines Corp’s x86 server division on Oct 1 for $2.1 billion, giving China’s biggest personal computer maker a major asset as it expands its offerings for business clients.

The closing purchase price is lower than the $2.3 billion valuation announced in January because of a change in the valuation of inventory and deferred revenue liability, Lenovo said.

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Lenovo to close IBM server deal