Lenovo acquired the largest computer manufacturer in Brazil
With the idea of doubling its market share in the third largest market in the world (and that it believes could be the largest in a couple of years), Lenovo announced that it reached an acquisition agreement with CCE, the manufacturer of Brazil’s largest computers, by which pay between $147 million cash and stock.
The deal was made official just yesterday, and expects the transaction to be completed during the first months of next year. CCE is a group of three companies engaged in the manufacture of computers and consumer electronics in general: Industry Digibras do Brasil SA, Digiboard Electronica da Amazonia Ltda and Electronics Dual Mix Comerico LTDA.
Lenovo’s CEO, Yang Yuanqing, believes this acquisition provides the basis for the vision of Lenovo, the era of “PC+”, including smartphones, tablets, and televisions. On the side of CCE, also dehacen in praise for the new agreement, the maximum company director, Roberto Sverner said that the combination between CCE and Lenovo is good for the Brazilian economy, better positioned to CCE in market, and will also be a contribution to the preparations for the two major events that have been in the South American country as being the next World Cup and the 2016 Olympics.
Administratively, CCE’s management will remain in their posts when Lenovo completely absorb its new member. Similarly, there are no layoffs planned and also intends to maintain the CCE and Lenovo brands separately in the future.
Link: Lenovo To Buy Brazil’s CCE For $147 Mln (Nasdaq)Tags: acquisition, Brazil, CCE, consumer electronics, Lenovo, pc, purchase