Lenovo to continue acquiring companies to drive growth
Lenovo announced on Tuesday that it has no plans yet to stop acquiring companies to drive its overall growth. The statement comes after the Chinese personal computer (PC) titan made two major purchases, according to TechCrunch.
The Wall Street Journal (WSJ) cited Chief Executive Officer (CEO) Yang Yuanqing saying: "We will continue to use acquisitions as a means to grow. Whenever there is a good opportunity, we will grasp it."
Last year, Lenovo became the biggest PC shipper in the world. Now, the firm is eyeing new ways to grow in the smartphone, servers, and storage sectors. The company's executives believe Lenovo has enough dough to keep the acquisition ball rolling, the report explained.
The Chinese PC giant recently acquired Motorola Mobility from Google in a $2.91-billion deal. It also grabbed the server business of IBM for $2.3 billion, TechCrunch detailed.
A statement released by Lenovo said it is confident that it can make Motorola Mobility profitable in four to six quarters, the report added.