Consumer electronics maker CCE for $148 million

18 Sep 2012

Lenovo Group  says that it will acquire Brazil's consumer electronics maker CCE from the Digibras Group, as the world's second-largest personal computer maker seeks to expand into one of the world's largest emerging economies.

Lenovo will pay 300 million reais ($148 million) in a mix of stock and cash, and would pay an additional 400 million reais ($198 million) depending on performance-based indicators over the four years ending in December 2016.

CCE comprises of three companies, Digiboard Eletrônica da Amazônia, Digibrás Indústria do Brasil, and Dual Mix Comércio de Eletrônicos.

The acquisition will more than double Lenovo's PC market share in Brazil, and elevate it to third position from seventh.

Brazil's PC market is forecast to grow this year by 8 per cent over last year to 17 million units, according to research firm IDC.

With nearly 50 years of history in Brazil, CCE is a leading domestic manufacturer of personal computers and consumer electronics in Brazil.  CCE's products are marketed under a portfolio of brands such as CCE, CCE Info and CCE Mobi, and its manufacturing facilities are located in the Free Trade Zone of Manaus (Zona Franca De Manaus).