Vendor begins negotiations to acquire an unnamed Brazilian firm

Lenovo in acquisition talks

PC giant Lenovo reported to be looking to acquire or invest in a Brazilian vendor.

Although details are not yet confirmed, the China Daily said that Lenovo has made an offer of $833 million for Brazil’s largest PC manufacturer Positivo Informatica, which holds around 20 per cent of the Brazilian market.

If true, this deal would represent Lenovo’s largest overseas acquisition since it bought IBM’s PC arm in 2005.

“The Directors confirm that the Company has certain preliminary discussions with independent third parties regarding potential investments opportunities and acquisitions,” read a statement from the Lenovo board, chaired by Yang Yuanqing.

“The Directors wish to state that no negotiation has been carried out in respect of any of the possible acquisitions at this stage, and no transaction term or agreement relating to any of the possible acquisitions has been agreed upon or entered into by the Company.”

Source: Channel Register

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