|[January 04, 2013]
Lenovo Closes Acquisition of CCE in Brazil
HONG KONG & SAO PAULO, Brazil --(Business Wire)--
Lenovo (News - Alert) Group, a global leader in PCs and mobile Internet devices, today
announced that it has completed its acquisition of CCE, widely known in
Brazil as a leader in PCs and consumer electronics.
The closing took place January 2, 2013, with Lenovo acquiring 100% of
CCE in a transaction consisting of Lenovo stock and cash totaling R$300
million (approximately US$147 million at today's exchange rates).
Announced on September 5, the acquisition more than doubles Lenovo's PC
market share in Brazil, the world's third largest PC market, and
immediately positions the company to execute its PC+ vision with a full
suite of consumer products across all four screens - PC, tablet, smart
phone and TV.
"Brazilian customers will see immediate benefit from this acquisition
with products that embody Lenovo's heritage of innovation, quality and
global supply chain efficiency, while building upon CCE's knowledge of
Brazilian consumer needs and strong retail presence," said Dan Stone,
President and General Manager, Lenovo Brazil. "Following our
announcement of new manufacturing and distribution capabilities in Itu,
Sao Paulo, the addition of CCE's valuable manufacturing base ad local
management team demonstrates Lenovo's powerful "global-local" strategy
in action, fostering rapid expansion that combines global reach with
meaningful local investments that reflect our long-term commitment to
the Brazilian market."
Lenovo (HKSE: 0992) (PINK SHEETS: LNVGY) is a $US30 billion personal
technology company - and one of the top two PC makers globally, serving
customers in more than 160 countries. Dedicated to building
exceptionally engineered PCs and mobile internet devices, Lenovo's
business is built on product innovation, a highly efficient global
supply chain and strong strategic execution. Formed by Lenovo Group's
acquisition of the IBM (News - Alert) Personal Computing Division, the Company
develops, manufactures and markets reliable, high-quality, secure and
easy-to-use technology products and services. Its product lines include
legendary Think-branded commercial PCs and Idea-branded consumer PCs, as
well as servers, workstations, and a family of mobile internet devices,
including tablets and smart phones. Lenovo has major research centers in
Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North
Carolina. For more information, see www.lenovo.com.
With nearly 50 years of history in Brazil, CCE is a leading domestic
manufacturer of personal computers and consumer electronics in Brazil.
CCE's products are marketed under a portfolio of well recognized brands
such as CCE, CCE Info and CCE Mobi, and its manufacturing facilities are
located in the Free Trade Zone of Manaus (Zona Franca De Manaus). CCE,
together with its affiliates, is the largest employer in personal
computing and consumer electronics in the North Region of Brazil. Since
2006, CCE has had partnerships with major international technology
players including Intel, Microsoft (News - Alert) and Qualcomm, in the production of
desktop and notebook computers.
Editor Note: the CCE business consists of three companies whose
legal names are DIGIBRÁS INDÚSTRIA DO BRASIL S.A., DIGIBOARD ELETRÔNICA
DA AMAZÔNIA LTDA. and DUAL MIX COMÉRCIO DE ELETRÔNICOS LTDA.
[ Back To TMCnet.com's Homepage ]