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Lenovo looks to the cloud with purchase of first software company

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Lenovo buys its first software company in the US, Stoneware, a cloud services provider.

Lenovo logo stock_1020
Lenovo logo stock_1020

Lenovo has acquired US software company acquired Stoneware Inc., according to The Wall Street Journal. The move marks the first time that Lenovo has made a software related purchase, with the Chinese-based PC manufacturer traditionally sticking to hardware related buys. The deal is a bid by Lenovo to provide additional cloud services across its product portfolio, an attempt to boost retail sales as the company moves into the PC Plus era. Stoneware's services will allow Lenovo to target consumers looking to access data or additional PCs remotely, while also giving the company the opportunity to provide end-to-end encryption services to businesses. Stoneware, based in Salt Lake City, Utah, is home to 67 employees, with the company providing cloud services to "millions of users" in education and the public sector. The financial terms of the deal weren't disclosed, but it's expected to be completed by the end of 2012.