Chinese computer manufacturer Lenovo, which sold its Lenovo Mobile handset manufacturing business in March last year, has bought the company back for around $200 million (£121 million) in cash and shares. Both companies were already linked by having a significant percentage of shares owned by Chinese investment company Legend Holdings.
Lenovo was created from the former IBM Personal Computing Division around five years ago. It says market conditions have changed since it sold Lenovo Mobile and now believes that the mobile internet is a key growth opportunity for the company. [Press release]