Lenovo Acquires Switchbox Labs

Research Triangle Park, NC — January 28, 2009: Lenovo today announced the company has acquired Seattle-based Switchbox Labs, Inc. for an undisclosed amount, and Switchbox co-founders Michael Sievert, Robert Dickinson and Blake Ramsdell will join Lenovo. Sievert has been named a senior vice president of the company and will report directly to CEO William Amelio.

Switchbox Labs is a start-up that focused on developing new consumer technologies. The company’s development projects are confidential, but will continue under Lenovo ownership. It is expected that Switchbox technologies will be integrated into Lenovo products in the future.

Prior to co-founding Switchbox Labs, Sievert was corporate vice president, Microsoft, and has held senior management positions at  AT&T Wireless and E* TRADE Financial.

“Innovation is the lifeblood of our company, and despite the current challenges in the worldwide economy and PC industry, we are committed to investing in strategies and technologies that will help deliver exceptionally engineered products and services to our customers,” said Amelio. “Switchbox Labs is doing some interesting work, and we are pleased that Switchbox and Mike are joining Lenovo.”

Terms and conditions of the sale have not been disclosed.

About Lenovo
Lenovo is dedicated to building exceptionally engineered PCs. Lenovo’s business model is built on innovation, operational efficiency and customer satisfaction as well as a focus on investment in emerging markets. Formed by Lenovo Group’s acquisition of the former IBM Personal Computing Division, the company develops, manufactures and markets reliable, high-quality, secure, and easy-to-use technology products and services worldwide. Lenovo has major research centers in Yamato, Japan; Beijing, Shanghai and Shenzhen, China; and Raleigh, North Carolina. For more information, see www.lenovo.com


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