IBM Exits x86 Server Market with Lenovo Sale
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IBM's System x, BladeCenter and Flex System blade servers and switches, x86-based Flex integrated systems, NeXtScale and iDataPlex servers portfolios are all being sold to Lenovo for the tidy sum of $2.3 Billion.
Financial terms of the deal have Lenovo paying IBM approximately $2 billion in cash with the remaining $300 million in Lenovo stock. In addition to the technology and the money, 7,500 IBM employees are now also being offered jobs by Lenovo.
IBM is not exiting the server business altogether, though, as it will continue to push its Power system and System z mainframe architectures.