Lenovo announces Packard Bell takeover

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Lenovo announces Packard Bell takeover

John-Paul Kamath

Lenovo has announced that it is in discussions with a third party over a proposed acquisition of Packard Bell.

The Chinese PC maker has entered into a memorandum of understanding with the unnamed third party to explore a proposed acquisition of Packard Bell.

Lenovo said at this stage that the proposed acquisition "may or may not materialise." A further announcement will be made by the company next week to comply with the Hong Kong Stock Exchange.

Lenovo is continuing negotiations with the independent third party and is undertaking necessary enquiries with government bodies in preparation for the entering into a bid, a spokesman said.

IBM sold its PC manufacturing business to Lenovo two years ago, but since then Lenovo and IBM have expanded their alliance to work on a range of products aimed at the business market. IBM will continue to market and sell Lenovo PCs through IBM Global Services and its strategic outsourcing deals.

Lenovo also launched a laptop computer that allows users to fully encrypt the contents of the hard drive by swiping a fingerprint reader, as part of its drive to increase the security of laptops.

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