Nothing but negotiation

The Gap Partnership

Negotiation skill may be required by Lenovo

The firm has just completed the takeover of German company Medion AG.

01 June 2011

Contract negotiations will be taking place between computer company Lenovo Group and Medion AG as the former has agreed to buy the latter for $900 million (£546 million).

The decision to complete the capture of the German electronic retailer is because Lenovo is looking to make further inroads into the European market.

Some negotiation skill will have to be demonstrated on the part of both firms to ensure that everything goes smoothly.

Yang Yuanqing, Lenovo chief executive officer, called the acquisition a "bold move".

"With their strong consumer sales, marketing, services and retail capabilities, Medion AG's business is perfectly aligned with our consumer growth strategy in western Europe," he added.

Mr Yuanqing observed that it will now be possible to create an "end-to-end consumer platform" as the two companies are working together.

Lenovo recently announced full-year sales of $21.6 billion, while it is also one of the top five PC manufacturers for the sixth consecutive quarter.

Posted by David Gleck

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