Lenovo says $2.1 billion IBM x86 server deal to close Wednesday

Lenovo Group Ltd will close its acquisition of International Business Machines Corp's (IBM) (IBM.N) x86 server division on Oct 1 for $2.1 billion (1.29 billion pounds), giving the Chinese tech firm the firepower to win business clients from U.S. The closing purchase price is lower than the $2.3 billion announced in January because of a change in the valuation of inventory and deferred revenue liability, Lenovo said. The purchase is Lenovo's latest since overtaking Hewlett-Packard Co (HP) (HPQ.N) as the world's top personal computer (PC) maker last year, in its quest to diversify away from a steadily shrinking PC market. Earlier this year, Lenovo also said it would pay $2.9 billion for Google Inc's (GOOG.O) Motorola smartphone unit.

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