Lenovo Continues Buying Spree with First Software Firm Purchase
Lenovo, the world's second-largest PC maker, has struck a deal to acquire U.S.-based software company Stoneware in order to boost its cloud computing operations. This is the Beijing-based company's first acquisition of a software vendor. Terms were undisclosed. The acquisition is expected to be completed by the end of 2012.
Stoneware produces software used mainly by governments and schools to synchronize data across multiple mobile devices. Lenovo will help Stoneware branch out its cloud products into more consumer-focused products.
Earlier this month, Lenovo agreed to buy CCE, Brazil's largest maker of consumer electronics, for about $148 million in a mix of cash and stock. That acquisition is expected to close in the first quarter of 2013.
Lenovo also recently said it would acquire Brazil consumer technology giant Digibras for approximately $147 million. The PC maker continues to plow resources into Brazil and other emerging economies.
Back in 2005, Lenovo bought the PC division of International Business Machines Corp. (NYSE: IBM). And last year, the company acquired control of Medion, a German computer maker, and the PC unit of Tokyo-based NEC Corp.
Filed under: 24/7 Wall St. Wire, Mergers & Acquisitions, PC Companies Tagged: IBM