Lenovo Chairman Liu Chuanzhi (Front L) shakes hands with IBM Vice President John Joyce (Front R) after signing an agreement in Beijing, Dec. 8, 2004. According to the agreement, Lenovo will acquire IBM's entire global desktop and laptop computer R&D and marketing business at the price of US$1.25 billion. After the transaction, Lenovo Group will become the third largest PC maker worldwide with an annual revenue exceeding US$10 billion.
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