Lenovo Group Ltd., Chinese No.1 computer maker, said Wednesday it had won clearance from the US to buy IBM’s personal computer business.
The company managed to meet the resistance from some lawmakers at the US national security oversight committee. After the merger, it will form the third-biggest computer maker over the globe.
Lenovo offers $1.25 billion for IBM’s computer business. The deal is expected to be completed in the second quarter. "We were able to get unanimous agreement from the members of the committee," said Stephen Ward, the general manager of IBM’s Personal Systems Division.
Mr. Ward will be Lenovo’s CEO. He stressed that the terms of approval are confidential, but Lenovo will be further able to sell PCs to the US agencies.