Lenovo and PCCW Announce Strategic Partnership to Form Technology Solutions Powerhouse in Asia Pacific

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HONG KONG, 14 June 2022— Lenovo Team Limited (” Lenovo”) (HKSE: 992) (ADR: LNVGY) as well as PCCW Limited (” PCCW”) (HKSE: 0008) collectively revealed today that they have actually participated in conclusive contracts to develop a tactical collaboration to develop a modern technology remedies service in the Asia Pacific area. The collaboration, which will certainly be called PCCW Lenovo Innovation Solutions Limited (” PLTS”), will certainly utilize the mixed staminas of Lenovo as well as PCCW to develop engaging worth for workers, clients, as well as investors of both business.

PLTS will certainly gain from the integrated sources as well as experience of Lenovo as well as PCCW, consisting of corresponding solution offerings, functional knowledge, go-to-market capacities, technological advancement capacities, as well as extremely knowledgeable ability swimming pools.

The critical collaboration to gain from each companion’s corresponding staminas

As a worldwide modern technology giant throughout tools, framework, as well as remedies as well as solutions, Lenovo will certainly bring its advancement, international existence, deep connections with business clients, as well as solid go-to-market as well as shipment capacities to the collaboration, which will certainly aid PLTS expand within as well as competition in markets throughout the Asia Pacific area.

With greater than twenty years of tried and tested record, PCCW Solutions is a leading IT companies in Asia Pacific, as well as is placed as the No. 1 leader in system combination as well as application advancement in Hong Kong. Along with a market leading brand name, PCCW Solutions will certainly give the critical collaboration its solid capacities in system combination as well as application advancement, functional knowledge, in addition to a very knowledgeable ability swimming pool.

Considerable chance to unlock harmonies

Lenovo’s as well as PCCW Solutions’ solution offerings, knowledge, go-to-market approaches as well as remedies advancement capacities are extremely corresponding. The critical collaboration will certainly offer one-stop client remedies that incorporate solutions, tools as well as electronic framework. Market information approximates the Asia IT Providers market to be worth around US$ 320 billion for 2022 as well as is anticipated to expand at a CAGR of greater than 10% to go beyond US$ 470 billion by 2026. PLTS is distinctively placed to record the development possibilities out there.

” The collaboration enhances as well as enhances our improvement from a gadgets as well as framework firm right into a worldwide leader in IT remedies as well as solutions. Our remedies as well as solutions service remains to be the keystone of our development passions as well as this critical collaboration with PCCW speeds up the chance to bring cutting-edge remedies to market for clients throughout Asia Pacific. PCCW’s stamina in essential sectors, shown service capacities, as well as solid ability swimming pool make them the best companion to catapult our cumulative IT solutions management also better,” claimed Ken Wong, Exec Vice Head Of State of Lenovo, as well as Head Of State of Lenovo Solutions as well as Providers Team.

” We are extremely thrilled to be straightened with a leading international modern technology gamer. We see this critical collaboration as a special chance to increase the development of our IT remedies service,” claimed Susanna Hui, PCCW’s Performing Team Taking care of Supervisor. “We stay committed as well as totally devoted to supplying electronic as well as took care of solutions for our existing clients in Hong Kong, specifically those in the general public industry. At the same time, we anticipate adding our sources as well as experience along with Lenovo to sustain the growth of the IT remedies service throughout Asia Pacific as well as develop engaging worth for our investors.”

” The critical collaboration stands for a considerable landmark in our advancement as a significant IT companies in Asia,” claimed Jerry Li, Handling Supervisor of PCCW Solutions. “We remain in the best area at the correct time, offered the ongoing modern technology velocity in the area. This collaboration implies that our groups will certainly have much more possibilities to increase their abilities. Structure on the solid structures of PCCW as well as Lenovo, we anticipate offering a bigger series of electronic remedies to our customers as well as adding additionally to the clever cities advancement in the area.”

Strategic collaboration framework in between Lenovo as well as PCCW

The critical collaboration will certainly be carried out via a complete factor to consider of US$ 613.6 million, consisting of US$ 513.6 million in money as well as US$ 100.0 million in Lenovo shares, using allocation as well as concern of 86,424,677 Lenovo shares to PCCW at conclusion. The shares will certainly be released at HK$ 9.025 per share, standing for a costs of 19.2%, based upon the close of trading since 14 June 2022. Upon the conclusion of the deal, Lenovo will certainly come to be a reliable 84% investor in PLTS via a straight 80% passion in PLTS as well as by means of a 20% risk in PCCW Network Providers, the holding firm of PCCW’s IT remedies service. PLTS will certainly concentrate on broadening its tasks mainly in the Asia Pacific area. The share factor to consider attribute as well as the resultant PCCW shareholding in Lenovo show the lasting dedication as well as self-confidence of both Events in the critical collaboration.

Advisors

HSBC acted as special monetary expert as well as Cleary Gottlieb Steen & Hamilton (Hong Kong) acted as lawful expert to Lenovo. J.P. Morgan acted as special monetary expert as well as Massacre & May acted as lawful expert to PCCW.

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