Lenovo Group Ltd will buy IBM Corp's low-end x86 server unit spending $2.3 billion, the company said.
The deal will help the Chinese company to lift the operating revenue to $5 billion, said Yang Yuanqing, CEO of Lenovo.
7,500 IBM staff will join Lenovo, according to Yang.
The Chinese company will become the third largest x86 server provider globally after it closes the deal, said IDC.
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