Lenovo targets German market with bid for Medion

Jun 01, 2011

Chinese computer maker Lenovo said Wednesday that it would buy the electronics group Medion of Germany to double Lenovo's share of Europe's biggest personal computer market.

A Lenovo statement said the company would offer 13 euros ($18.75) for each Medion share, a premium of 29 percent over the average closing price for the previous month.

If successful, Lenovo would become the third biggest computer company in Germany, with a market share of more than 14 percent.

It would also cover about 7.5 percent of the entire western European market, the statement said.

Medion founder and chief executive Gerd Brachmann has also agreed to a deal under which he is to sell his 40 percent stake to Lenovo at the same price but with 80 percent paid in cash and 20 percent in Lenovo shares.

In January, Lenovo and the company . unveiled a joint venture that will allow Lenovo to make in-roads into the Japanese market and position both firms to challenge US rival Hewlett-Packard.

Explore further: Ticketfly buying WillCall for on-premise data

add to favorites email to friend print save as pdf

Related Stories

NEC, Lenovo in talks on joint venture: report

Jan 21, 2011

Leading Japanese and Chinese electronics firms NEC Corp. and Lenovo Group are in the final stages of talks to form a joint venture in the personal computer business, according to a report.

China's Lenovo, NEC form PC joint venture in Japan

Jan 27, 2011

Japanese and Chinese electronics firms NEC Corp. and Lenovo Group on Thursday announced they will form a personal computer joint venture in Japan, as they take on global giants such as Hewlett-Packard.

PC maker Lenovo says profit up 25 percent

Feb 17, 2011

(AP) -- Chinese personal computer maker Lenovo said Thursday its quarterly profit rose 25 percent on double-digit sales growth in developing markets.

China's Lenovo to launch game console

Aug 30, 2010

China's IT giant Lenovo has said it will launch a video games console this year to vie with Nintendo's Wii, Microsoft's XBox 360 and Sony's PlayStation 3 in the booming motion-gaming market.

China's Lenovo creates unit for tablets, mobiles

Jan 18, 2011

Chinese computer giant Lenovo said Tuesday it will create a special unit to create mobile and other Internet-connected devices, as it seeks to grab a bigger slice of the fast-growing market.

Recommended for you

Oregon sues Oracle over failed health care website

47 minutes ago

Oregon Attorney General Ellen Rosenblum says she's filed a lawsuit against Oracle Corp. and several of its executives over the technology company's role in the state's troubled health insurance exchange.

Google buys product design firm Gecko

1 hour ago

Google on Friday confirmed that it bought Gecko Design to bolster its lab devoted to technology-advancing projects such as self-driving cars and Internet-linked Glass eyewear.

Ticketfly buying WillCall for on-premise data

Aug 21, 2014

Ticketfly Inc., a San Francisco-based technology company among several posing a challenge to Ticketmaster, is acquiring WillCall Inc., a crosstown rival that turns your smartphone into a mobile wallet at live events.

HP revenue inches up after years of decline

Aug 20, 2014

Hewlett-Packard on Wednesday reported that its quarterly revenue rose for the first time in three years, nudged by improved computer sales everywhere except Russia and China.

Restaurants experimenting with pay-in-advance tickets

Aug 20, 2014

With restaurant patrons increasingly jumping on the Internet to make reservations, some high-end eateries here and across the country are adding a new tech wrinkle: having their clientele pay for their meal in advance using ...

User comments : 0