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• China's Lenovo acquires IBM's PC business
• Lenovo Group acquires IBM's PC business

Lenovo Chairman Liu Chuanzhi(front L) shakes hands with IBM Vice President John Joyce(front R) after signing an agreement in Beijing, Dec. 08, 2004. According to the agreement, Lenovo will acquire IBM's entire global desktop and laptop computer R&D and marketing business at the price of 1.25 billion US dollars. After the transaction, Lenovo Group will become the third largest PC maker worldwide with an annual revenue exceeding 10 billion US dollars, (Xinhua photo/Yuan Man)

    BEIJING, Dec. 9 (Xinhuanet) -- Following are quotes and comments from leading corporate figures of IBM and Lenovo on Lenovo's acquisition of IBM's PC business:     

    Liu Chuanzhi, chairman of Lenovo, a leading IT company both in China and Asia

    -- For a company from a developing country to acquire an international giant like IBM that embodies the American spirit, our risk is either we succeed, or fail.

    -- The bigger the baby, the more difficult the delivery.

    -- It has changed the structure of the global PC manufacturing business.

    -- This acquisition will allow Chinese industry to make significant inroads on its path to globalization.     

¡¡¡¡Yang Yuanqing, current president and chief executive officer of Lenovo

    -- It's like putting a layer of earth, consolidating it, and then we putting another layer, to keep us from falling down.     

    John Joyce, IBM senior vice president and group executive of IBM Global Services

    -- For employees, this represents an opportunity to join a vibrant and growing company and for investors this agreement represents an opportunity to reap the rewards of a growing companyin a growing market.

    -- In Lenovo we have a partner with powerful competitive capabilities in China and Asia and in consumer and desktop PCs.     

    Stephen M. Ward, Jr., who will become Lenovo Group's chief executive

    -- Our two companies are a perfect fit sharing a common cultural commitment to innovation, customer service and shareholder value.     

    Michael Dell, chairman of top PC producer Dell

    -- We're not a big fan of the idea of taking companies and smashing them together.

    -- When was the last time you saw a successful acquisition or merger in the computer industry?

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