Enterprise IT vendor IBM has received approval for selling its x86-based server business to Lenovo from the Committee on Foreign Investment in the United States (CFIUS).
IBM said the clearance by CFIUS of this transaction is good news for both IBM and Lenovo, and for our customers and employees.
On Thursday, Lenovo CEO said the company is targeting to complete the transaction by the year-end.
The approval of the $2.3 billion sale to Lenovo enables IBM to focus on system and software innovations that bring new kinds of value to IBM clients in areas such as cognitive computing, Big Data and cloud.
