Lenovo Buys Control Of IBM's PC Making Business (Picture-7047093)

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BEIJING, CHINA - DECEMBER 8: (CHINA OUT) Lenovo Chairman Liu Chuanzhi (L) sits with John Joyce, Senior Vice-President and Group Executive of IBM Global Services, at a news conference on December 8, 2004 in Beijing, China. China's largest personal computer maker, Lenovo Group Ltd., said on Wednesday it is buying control of IBM's PC-making business for USD 1.25 billion, capping the U.S. tech giant's gradual withdrawal from the business it helped pioneer in 1981. The agreement, which forms the world's third largest PC business, calls for Lenovo to pay IBM USD 650 million in cash, USD 600 million in Lenovo Group common stock and for Lenovo to assume USD 500 million in net balance sheet liabilities from IBM. (Photo by China Photos/GettyImages)

Two Chinese workers install a massive computer billboard, featuring IBM laptops bundled with Microsoft software, at a electronics store in Beijing on December 18, 2009. China will become Microsoft's biggest market within the next seven years, according to Bill Gates. UPI/Stephen Shaver Photo via Newscom

NEW YORK - OCTOBER 16: Preet Bharara (C), United States Attorney for the Southern District of New York, speaks at a press conference where he announced charges against hedge fund managers, Fortune 500 executives, and a management consulting director for participating in insider trading schemes that resulted in more than $20 million in illegal profits, with Joseph M. Demarest, Jr. (2R), Assistant Director-in-Charge of the FBI NY Field Division, and Robert Khuzami (3R), Director of Enforcement at the SEC at the US Attorney's office on October 16, 2009 in New York City. The defendants in the case include Raj Rajaratnam, the managing director of Galleon Management, LLC, and a portfolio manager for Galleon Technology Offshore, Ltd.; Danielle Chiesi, an employee of New Castle Funds, LLC, formerly the equity hedge fund group of Bear Stearns Asset Management, Inc.; Mark Kurland, a top executive at New Castle; Rajiv Goel, a Director in Strategic Investments at Intel Capital; Anil Kumar, a director at McKinsey & Company, Inc,; and Robert Moffat, Senior Vice President and Group Executive at IBM. (Photo by Michael Nagle/Getty Images)

NEW YORK - OCTOBER 16: Preet Bharara (L), United States Attorney for the Southern District of New York, listens to Robert Khuzami, Director of Enforcement at the SEC, at a press conference where charges where announced against hedge fund managers, Fortune 500 executives, and a management consulting director for participating in insider trading schemes that resulted in more than $20 million in illegal profits, at the US Attorney's office on October 16, 2009 in New York City. The defendants in the case include Raj Rajaratnam, the managing director of Galleon Management, LLC, and a portfolio manager for Galleon Technology Offshore, Ltd.; Danielle Chiesi, an employee of New Castle Funds, LLC, formerly the equity hedge fund group of Bear Stearns Asset Management, Inc.; Mark Kurland, a top executive at New Castle; Rajiv Goel, a Director in Strategic Investments at Intel Capital; Anil Kumar, a director at McKinsey & Company, Inc,; and Robert Moffat, Senior Vice President and Group Executive at IBM. (Photo by Michael Nagle/Getty Images)

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BEIJING, CHINA - DECEMBER 8: (CHINA OUT) Lenovo Chairman Liu Chuanzhi (L) sits with John Joyce, Senior Vice-President and Group Executive of IBM Global Services, at a news conference on December 8, 2004 in Beijing, China. China's largest personal computer maker, Lenovo Group Ltd., said on Wednesday it is buying control of IBM's PC-making business for USD 1.25 billion, capping the U.S. tech giant's gradual withdrawal from the business it helped pioneer in 1981. The agreement, which forms the world's third largest PC business, calls for Lenovo to pay IBM USD 650 million in cash, USD 600 million in Lenovo Group common stock and for Lenovo to assume USD 500 million in net balance sheet liabilities from IBM. (Photo by China Photos/GettyImages)

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