9 March 2005 – Armonk (NY): IBM and Lenovo have won clearance from the Committee on Foreign Investment in the US for Lenovo’s $1.25 billion acquisition of IBM’s PC business.
IBM’s SVP Stephen Ward, who will serve as CEO of the newly-merged Lenovo, said: "With the review by the US government complete, IBM and Lenovo are moving quickly to integrate the two companies and expect to finalise the transaction in the second quarter, as planned, while continuing to provide customers with world-class PC products and services."
