Infotech Lead Asia: Lenovo Group is set to buy CCE business, a leader in PCs and consumer electronics in Brazil, for approximately 300 million Brazilian Reais
The acquisition significantly expands Lenovo’s presence in the world’s third-largest PC market.
Lenovo will have a manufacturing presence and can boast presence in PC, tablet, smart phone and TV markets.
Brazilian customers will benefit from more competitively priced and quality products.
“This move more than doubles our PC market share in Brazil, one of the world’s fastest-growing and most important technology markets. It not only helps Lenovo rapidly expand its leadership here, but it also lays a foundation for our future PC+ vision,” said Yuanqing Yang, chairman and CEO, Lenovo Group
“Lenovo brings CCE an unmatched legacy of quality, world leading global innovation expertise, retail network development know-how and tremendous supply chain leverage. Their proven track record to managing complex cross-cultural relationships makes us excited about working together,” said Roberto Sverner, founder and CEO of CCE.
The combination of CCE and Lenovo is good for the Brazilian economy: it will spur job creation, improve the competitiveness of the CCE product range and enhance the Brazilian operations of a major global company, at a time when we are preparing to showcase Brazil during the World Cup and 2016 Olympics.
Lenovo will retain CCE’s management team including its founder and CEO, Roberto Sverner in the combined company. CCE’s management will work with Lenovo’s new country leadership to drive both businesses.
The current product brand names of CCE and Lenovo will continue, while leveraging each other’s strengths.
The company’s present business plan does not anticipate any workforce restructurings as a result of the acquisition.