Lenovo and IBM are moving to seal the transaction that will see Lenovo take on IBM's x86 server business, with the transition beginning on 1 October in most major markets, the firms said.
The news follows months of wrangling since the initial announcement of the deal back in January, as the deal was scrutinised by the US government's Committee on Foreign Investment in the US (CFIUS) to consider any potential risks from the takeover.
Lenovo's acquisition was finally given the green light in August, and it now appears that the two firms are eager to expedite the transaction, which will start to take effect on Wednesday in countries that are part of the initial closing.
However, to ensure a seamless transition, employees and business operations in the EMEA region will be migrated from IBM to Lenovo over the next few months, before the end of the fiscal year, Lenovo said.
The purchase price has been disclosed to be approximately $2.1bn, with $1.8bn to be paid in cash and the remainder made up of Lenovo stock.
Lenovo said it is buying IBM's x86 server business intact and is committed to following IBM's product roadmap, including Flex and x86-based PureFlex integrated systems. However, IBM will continue to provide support and maintenance on Lenovo's behalf for an extended period of time, to ensure a seamless transition for customers.
The deal will see Lenovo move into the position of third-largest server vendor globally almost overnight, but the firm has even greater ambitions.
At the official launch of its latest line-up of x86 server systems attended by V3 last week, Lenovo's ThinkServer leader for the UK and Ireland Thomas Goodwin said that the firm intended to take the number one position by leveraging its strengths in the PC market.
Lenovo acquired IBM's PC division almost a decade ago, and the two firms have worked closely together since. Meanwhile, Lenovo is in the process of acquiring the Motorola Mobility division from Google, which will also make it the world's third-largest smartphone maker.
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