Lenovo Logo – Lenovo is a company manufacturer of computers, the second in the world and the largest in Africa and the Asia Pacific region (2006). Lenovo is an acronym for “I” (legend) and “novo” (pseudo- Latin for “again”), ie “New Legend”. The company produces desktops, laptops, servers, PDA and headset for cell phones . It also provides information technology integration and support services, and its QDI unit offers contract manufacturing.
The company also offers access to Internet through its website FM365.com. Its headquarters is located in Raleigh, North Carolina, United States, the group home ThinkPad from IBM and Beijing, China. It is also incorporated in Hong Kong. Currently, 39.6% of Lenovo is owned by public shareholders, 42.4% of Legend Holdings Limite, IBM 7.9% and 10.1% of Texas Pacific Group, General Atlantic and Newbridge Capital LLC. Because the Chinese Academy of Sciences, an agency of the government of China, owns 65% of Legend Holdings, effectively the government of that country has 27.5% of Lenovo and is thus the majority shareholder.
The company was founded in 1984 by a group of 11 engineers led by Liu Chuanzi in Beijing as Legend Group Ltd and New Technology Developer Incorporated. The said company was incorporated in 1988 in Hong Kong. The company has become the largest PC maker in household products and third parties, which are distributed through their stores around the world. The company underwent a restructuring and was separated into two entities. These were Lenovo and Digital China Holdings Limited. Lenovo became the personal computer manufacturer and Digital China a distributor of IT products and services.
In 2005, Lenovo bought IBM’s computer division, which made it the international manufacturer of the world’s largest computers. Lenovo paid IBM $ 1,270 million consisting of $ 655 million in cash and 600 shares of Lenovo. As a result of the acquisition, Lenovo gained the rights of the product lines and trademarks such as ThinkVision, ThinkPad, ThinkVantage, ThinkCentre, Aptiva and NetVista. On May 1, 2005, IBM had 19.9% of Lenovo.