Lenovo this morning announced the acquisition of US-based Stoneware in order to expand its cloud computing services network. The acquisition results in adding significant new technologies and accelerates its capabilities for Lenovo for both commercial and consumer cloud offerings, providing secure content across multiple devices in education and government.
There are no words on financial terms; the acquisition is not material to Lenovo’s earnings. As part of agreement, it is expected that all US-based Stoneware employees will join Lenovo, means there will be no job losses. The acquisition is expected to be completed by the end of 2012 and in the coming weeks the Stoneware team will be fully integrated into Lenovo. The Stoneware team will remain in Indiana and Utah and will continue to sell both webNetwork and LanSchool.