Date: 01 Oct 2014 Wednesday
IBM Announces Initial Closing of the Sale of its Industry Standard Server Business to Lenovo
On October 1, 2014, IBM and Lenovo completed the initial closing of the sale of IBM's industry standard server business to Lenovo. The details can be found in the press release http://www.ibm.com/press/us/en/pressrelease/44997.wss.
The divested scope includes System x, BladeCenter and Flex System blade servers and switches, x86-based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, blade networking and maintenance operations. IBM will retain its System z mainframes, Power Systems, Storage Systems, Power-based Flex servers, PureApplication and PureData appliances.
The financial implications to IBM's fourth quarter and full year 2014 revenue, profit, balance sheet and cash flow will be discussed during the company's third quarter 2014 Earnings call in mid October.
The agreement was announced on January 23, 2014. The initial investor communication is available at http://www.ibm.com/investor/article/jan23.html.