Lenovo acquires Germanys NEDION AG to expand its business in Europe
Lenovo is acquiring Germany’s MEDION AG, a leader in PC, multimedia products, mobile communications service and consumer electronics. The acquisition, when completed, will double Lenovo’s market share in Germany and make it the third-largest PC Company in Europe’s largest PC market. Together, the combined company will have more than 14% share in the German PC market and approximately 7.5% share in the Western Europe PC market. This agreement also fuels Lenovo’s expansion in consumer PCs and the high-growth mobile Internet market. Under the terms of the agreement, Lenovo will commence a public offer for all outstanding public shares of MEDION AG for 13 Euros per share in cash.
MEDION AG is a listed company with its headquarters in Essen and employs approximately 1,000 staff members. MEDION AG’s business model is geared towards making high-quality, innovative and trendy designed consumer electronics products available to broad consumer segments.