Lenovo Continues Buying Spree with First Software Firm Purchase

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By Trey Thoelcke Published
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Lenovo, the world’s second-largest PC maker, has struck a deal to acquire U.S.-based software company Stoneware in order to boost its cloud computing operations. This is the Beijing-based company’s first acquisition of a software vendor. Terms were undisclosed. The acquisition is expected to be completed by the end of 2012.

Stoneware produces software used mainly by governments and schools to synchronize data across multiple mobile devices. Lenovo will help Stoneware branch out its cloud products into more consumer-focused products.

Earlier this month, Lenovo agreed to buy CCE, Brazil’s largest maker of consumer electronics, for about $148 million in a mix of cash and stock. That acquisition is expected to close in the first quarter of 2013.

Lenovo also recently said it would acquire Brazil consumer technology giant Digibras for approximately $147 million. The PC maker continues to plow resources into Brazil and other emerging economies.

Back in 2005, Lenovo bought the PC division of International Business Machines Corp. (NYSE: IBM). And last year, the company acquired control of Medion, a German computer maker, and the PC unit of Tokyo-based NEC Corp.

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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