After nearly seven months, Lenovo's $2.3 billion buy of IBM's server business has cleared its big regulatory hurdle: The Committee for Foreign Investment in the United States.
The Chinese electronics maker, which has its Americas headquarters in Morrisville, released the following statement:
"Lenovo can confirm reports that CFIUS has cleared its transaction to acquire IBM’s x86 server business and the companies have completed the regulatory process in the United States. As we have stated consistently for both the x86 and Motorola Mobility acquisitions, we continue to work through a number of regulatory and business processes to ensure an effective and timely closure on both deals. We remain on track to close both deals by the end of the year. Out of respect for the confidentiality of the process, we will not have any further comment until we have met all conditions for closure."
Closure will nearly double Lenovo's North Carolina headcount, and kick-start a Research Triangle Park expansion, as Lenovo branches out to house its new workers.
Earlier this week, Jay Parker, head of North America for Lenovo, said the Ericsson campus, which is currently being renovated to house the new Big Blue-turned-Lenovo employees, would be ready "as soon as the deal closes."
The former IBMers will work out of Lenovo's enterprise division, headed by Gerry Smith, who will be based in RTP.