Lenovo Buys German Medion

Posted: Jun 1 2011, 9:41am CDT | by , in News | Technology News

 
Lenovo buys German Medion

Don't Miss: This How to find Fingerlings in Stock

Lenovo strengthen European presence with Medion acquisition.

Medion is pretty well known in Germany for providing most of the budget computers and electronics deals for discount chain Aldi. Now Lenovo picks up Medion AG to expand in Europe. The acquisition, when completed, will double Lenovo’s market share in Germany and make it the third-largest PC Company in Europe’s largest PC market. Together, the combined company will have more than 14% share in the German PC market and approximately 7.5% share in the Western Europe PC market.

Under the terms of the agreement, Lenovo will commence a public offer for all outstanding public shares of Medion AG for 13 Euros per share in cash. The WSJ reports that this puts the value of Medion at about $900 million. Medion Founder Gerd Bachmann will sell 40% of Medion shares to Lenovo in a cash and shares deal. He will continue to hold 20% of Medion AG shares. Medion AG will continue to operate the Medion brand and will benefit from the Lenovo 'back end'.

I think Lenovo found a great deal here that will accelerate their European business.

Holiday Gift Guides and Deals

Get your Holiday gifting inspired by Best Toy Gifts with High STEM Value and the Top 10 toy gifts under $10 if you are on budget. The most popular Holiday 2017 toy list include Fingerlings, Crate Creatures and more. Don't miss the new Holiday deals on Amazon Devices, including $29.99 Fire tablet.

This story may contain affiliate links.

This free App Solves You Holiday Shopping Problem


Download the free Tracker app now to get in-stock alerts on Fingerling, Luvabella, SNES Classic and more.

Latest News

Comments

The Author

<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

Advertisement

comments powered by Disqus