April 2, 2023

DealBook: Lenovo to Buy Cloud Computing Company

Lenovo, the personal computer maker, said on Tuesday that it would buy Stoneware, a maker of cloud-computing software, as the frenzy for cloud-based technologies continues.

Cloud-based computing, which allow users to access software and other services via the Web, has been a hot area for deal-making in recent years.

In May, SAP, the German software company, bought Ariba for $4.5 billion. Oracle agreed to buy Taleo, which makers human resources software, for $1.9 billion in February, after paying $1.43 billion for RightNow Technologies last year. In 2010, Dell bought Boomi, a cloud computing start-up.

With Stoneware, Lenovo will add education and government related-services, with products like webNetwork and LanSchool.

“Adding Stoneware cloud computing into the Lenovo line up presents a significant opportunity to leverage their success, and enhance our PC Plus offerings, all to the benefit of our customers,” Peter Hortensius, a senior vice president at Lenovo, said in a statement. “We have a history of innovation and embracing new technologies, and the talented team at Stoneware will fit in perfectly with our long-term strategy.”

The terms of the deal were not disclosed. Lenovo expects to complete the acquisition by the end of the year.

Article source: http://dealbook.nytimes.com/2012/09/18/lenovo-to-buy-cloud-computing-company/?partner=rss&emc=rss