Start the conversation
Shares of Lenovo Group Ltd. (OTC: LNGVY) were on the rise on news that the company's first-quarter profits surged more than 23%. The world's largest personal computer manufacturer reported strong growth in mobile devices and desktop stations. The company is attempting to aggressively expand across multiple divisions with a strong emphasis on acquisitions as a primary growth strategy. In January, Lenovo announced two major deals. It tentatively agreed to purchase Motorola Mobility fromGoogle Inc. (Nasdaq: GOOGL) for roughly $2.91 billion, and it planned to purchase a server unit from International Business Machines Corp. (NYSE: IBM) for $2.3 billion.