|By Business Wire||
|January 3, 2013 09:09 AM EST||
Lenovo (HKSE: 0992) (PINK SHEETS: LNVGY) and EMC Corporation (NYSE: EMC) announced today that they have completed the formation of LenovoEMC Ltd, the joint venture previously announced in August 2012 along with a wider strategic partnership in industry standard servers and networked storage solutions. Incorporating the core assets of EMC’s Iomega business, the new JV will bring co-branded network attached storage (NAS) solutions to distributed enterprise, remote branches, and small and medium businesses.
“Lenovo's record as one of the fastest-growing technology companies in the world and Iomega's heritage as a leader in network storage solutions enables the joint venture to pursue growth opportunities and drive innovation in the SMB NAS market,” said Eric Arcese, President and General Manager, LenovoEMC Ltd. “With the joint venture now underway, there’s a real sense of opportunity and excitement as we work with our partners and customers to firmly establish LenovoEMC Ltd as a leader in the fast-growing global SMB storage market.”
The Iomega networked storage portfolio includes desktop, tower and rackmount array products ranging in capacity from diskless versions (0TB) up to 48TB. Iomega NAS solutions include the award-winning EMC® LifeLine™ operating system, which combines industry-leading features and benefits with an ease-of-use tailored to small business users, remote enterprise offices, departmental data centers and others. These capabilities provide ideal storage expansion to Lenovo’s award winning ThinkServer and ThinkStation server and workstation offerings.
In addition to the JV, the global strategic partnership between Lenovo and EMC Corporation also encompasses an x86 server technology development program, as well as an OEM and reseller relationship for EMC’s storage solutions.
Both EMC and Lenovo are shareholders of LenovoEMC Ltd, with Lenovo holding the majority interest. The partnership described here is not considered material to either company’s fiscal year earnings.
Lenovo (HKSE: 992) (ADR: LNVGY) is a $US30 billion personal technology company – and one of the top two PC makers globally, serving customers in more than 160 countries. Dedicated to building exceptionally engineered PCs and mobile internet devices, Lenovo’s business is built on product innovation, a highly efficient global supply chain and strong strategic execution. Formed by Lenovo Group’s acquisition of the IBM Personal Computing Division, the Company develops, manufactures and markets reliable, high-quality, secure and easy-to-use technology products and services. Its product lines include legendary Think-branded commercial PCs and Idea-branded consumer PCs, as well as servers, workstations, and a family of mobile internet devices, including tablets and smart phones. Lenovo has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina. For more information, see www.lenovo.com.
EMC Corporation is a global leader in enabling businesses and service providers to transform their operations and deliver IT as a service. Fundamental to this transformation is cloud computing. Through innovative products and services, EMC accelerates the journey to cloud computing, helping IT departments to store, manage, protect and analyze their most valuable asset — information — in a more agile, trusted and cost-efficient way. Additional information about EMC can be found at www.EMC.com.
EMC is a registered trademark or trademark of EMC Corporation in the United States and other countries.
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