Lenovo acquires IBM's server in biggest ever Chinese tech deal The deal surpasses Baidu Inc's acquisition of 91 Wireless from NetDragon Websoft Inc for $1.85 billion last year, according to Thomson Reuters data, and underscores the growing clout of the country's technology firms as they look to expand overseas. What the business is worth to IBM is no longer relevant. The only thing that matters is what it's worth to Lenovo," said Alberto Moel, a Hong Kong-based analyst at Sanford C. Bernstein. If Lenovo can improve the margins... that could offset any continued revenue shrinkage. Lenovo's purchase of IBM's ThinkPad PC business in 2005 for $1.75 billion became the springboard for its leap to the top of global PC maker rankings. The market is betting Lenovo will enjoy similar success with its latest acquisition, which is partly reflected in a 9.44 percent rise in its shares this year. IBM's server business was the world's second-largest, with a 22.9 percent share of the $12.3 billion market in the third quarter of 2013, according to technology research firm Gartner. Hewlett-Packard Co is the biggest player, while Lenovo does not appear in the top five. "The acquisition presents a unique opportunity for the company to gain immediate scale and credibility in this market," Lenovo said on Thursday.