RTP-based IBM and Chinese firm Lenovo have agreed to a $1.75 billion deal for IBM's personal computer operations, which are headquartered in RTP. The deal will make Lenovo the third largest PC manufacturer in the world, with IBM keeping a 19-percent ownership in the company. According to reports, the final deal terms included $1.2 billion in cash and assumption of over $500 million in debt.
There are approximately 2,000 current IBM employees in PC design and promotion who are located in RTP. These individuals will transfer to Lenovo and many will remain in the area. IBM had sold a different portion of its PC business in a separate sale almost two years ago.
IBM is a CED Member.