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Lenovo looking for acquisitions

China-based PC and gadget manufacturer Lenovo on Thursday confirmed that it was talking to "independent third parties" about potential acquisitions and investments.

China-based PC and gadget manufacturer Lenovo on Thursday confirmed that it was talking to "independent third parties" about potential acquisitions and investments.

In overseas trading Wednesday — Lenovo trades on the Stock Exchange of Hong Kong — shares spiked 27 per cent in heavy trading on various reports that the PC maker was going to pull the trigger on acquisitions. Lenovo is now the fourth-largest PC maker following Acer's acquisition of Gateway.

Lenovo in an announcement confirmed that it was talking to other companies about deals, but added that there were no transactions to disclose. It also issued a statement for regulators on its trading volume.

The company said:

The directors wish to emphasis that the company does look at different business investment opportunities from time to time. The directors confirm that the company has certain preliminary discussions with independent third parties regarding potential investments opportunities and acquisitions.

The directors wish to state that no negotiation has been carried out in respect of any of the possible acquisitions at this stage, and no transaction term or agreement relating to any of the possible acquisitions has been agreed upon or entered into by the company. There is no assurance that any definitive agreement will ultimately be reached. Further announcement will be made as and when appropriate.

Media outlets in Brazil have reported that Positivo Informatica, Brazil's largest PC maker, was on Lenovo's shopping list. Bloomberg also reported that Dell might be interested in Positivo. Brazil is one of the key emerging markets for technology vendors — it's the 'B' in BRIC (Brazil, Russia, India, China). Fujitsu has also been rumored to be in talks to sell its PC unit to Lenovo, according to Reuters.