BEIJING – Chinese tech giant Lenovo was set to acquire a 51 percent stake, worth $224 million, in the personal computer business of Japanese firm Fujitsu, the China Daily reported on Friday.
A joint venture would integrate their client resources and manufacturing, as well as research and development capabilities.
With the acquisition, the Chinese company aims to regain the top spot in worldwide PC sales, a position it lost, earlier this year, to US company HP.
The combined market share of Lenovo – 21.6 percent – and Fujitsu – 4 percent – is bigger than HP, which holds about 22.8 percent, according to a market research company International Data Corp.
The deal also came soon after the company announced its strongest revenue jump in two years, thanks in part to the faster-than-average growth of its PC business.