The deal, first talked about last year, sees Lenovo take control of Fujitsu Client Computing. Fujitsu spun the outfit out of its primary business at the start of last year in preparation for a sale.
A joint venture will be formed between Lenovo, Fujitsu and Development Bank of Japan – which has taken a five percent stake.
The business will continue to operate under the Fujitsu brand.
Lenovo announced the deal simultaneously with its quarterly results.
The PCs and devices business saw a year-on-year revenue increase of seven percent to $8.4 billion.
Lenovo’s datacentre and mobile businesses reported a slight revenue growth so the Fujitsu Client Computing arm is going to a good home which will take it for walks and make sure it gets regular check-ups from the vet.
HP and Lenovo are fighting it out for the title of the world’s largest PC manufacturer, with HP thought to be slightly ahead.