FORTUNE -- With its planned acquisition of Brazilian electronics company CCE, Chinese computer maker Lenovo moves one step closer to its bold vision of becoming the world's leading PC maker by attacking emerging markets.
Lenovo, already the market leader in China and India, on Wednesday said it plans to acquire CCE, the No. 2 PC maker in Brazil. A person close to the transaction tells Fortune the deal is valued at about $150 million.
News of the deal comes as Lenovo's partner in Japan, NEC Corp., sold its entire stake in Lenovo, a move that sent the PC maker's shares down 8% in Asian markets.
Lenovo already has a presence in Brazil. It recently invested $30 million in a factory there. But executives felt the company needed a local partner to jump-start its operations in the area. "We could do it ourselves," Milko van Duijl, president of Asia Pacific and Latin America for Lenovo, tells Fortune, "but we'd miss the World Cup. We'd miss the Olympics." Brazil will host soccer's World Cup in 2014 and the Summer Olympic Games in 2016. Both events are expected to spur demand for electronics as consumers seek new devices to watch events and games.
Van Duijl says the CCE deal was a strategic fit for Lenovo, but also a cultural one. "The first time I met the family I sensed that they were solid, focused on quality and brand value." He says senior management will stay on as part of the transaction. "Lenovo brings CCE an unmatched legacy of quality," Roberto Sverner, founder and CEO of CCE, said in a news release. The acquisition is expected to close in the first quarter of 2013.
Lenovo has been on an upswing, boosting its share of the global PC market to 15%, up from 9% in 2009. Much of its success can be attributed to its strong position in China and other emerging markets, where market penetration is not as high as it is in the developed world.
Brazil, like China and India, is seeing an expansion of its middle class -- a trend that translates into increased demand for computers, televisions, and cell phones.
Of course, Lenovo still has work to do. "We don't feel we get to No. 1 if we don't take a more prominent position in the top five markets worldwide," Van Duijl says. Where does Lenovo lag? The U.S., where the company is the No. 4 player, behind HP (HPQ), Dell (DELL), and Apple (AAPL).
Editor's note: A previous version of this story incorrectly stated that Lenovo was the sixth largest PC manufacturer in the U.S. It is, in fact, the fourth largest.
Apple's roll-out reaches deeper into Asia, Africa, Latin America and the Middle East
FORTUNE -- The fastest roll-out yet of an iOS device picked up pace this week as Apple (AAPL) prepared to launch the new iPad in 23 countries Friday and seven more on Saturday.
The longest lines are likely to be in Brazil, where Apple and Foxconn have set up local assembly plants to avoid that country's steep import taxes. MOREPhilip Elmer-DeWitt - May 11, 2012 7:30 AM ET
Forty five minutes with the man who took over when Steve Jobs stepped down
For those of you who missed Tim Cook's keynote presentation at the Goldman Sachs Technology and Internet Conference in San Francisco Tuesday, the audio is still available in QuickTime on Apple's (AAPL) website here.
For those who prefer to read than to listen, we've posted an edited transcript of his remarks below the fold.
Corrections most appreciated.Philip Elmer-DeWitt - Feb 15, 2012 5:38 AM ET
But Brazil, where unlocked phones start at $1,400 U.S., not so much
Apple (AAPL) delivered the iPhone 4S to two dozen more countries Friday, bringing it -- by our count -- to 76, exceeding its stated goal to be in more than 70 countries by the end of the year.
Friday's launches were in Bahrain, Brazil, Chile, Cyprus, Egypt, French West Indies, Israel, Jordan, Kuwait, Malaysia, Morocco, Peru, Philippines, Qatar, Reunion Island, MOREPhilip Elmer-DeWitt - Dec 16, 2011 5:02 PM ET
The rapidly growing social network held a so-called State of the Union to reveal new stats about its ongoing rise.
FORTUNE -- This week, Twitter CEO Dick Costolo hosted a small gathering at Twitter headquarters in San Francisco to give a brief update on the social network's growth. His self-described "State of the Union" highlighted a number of new user stats. The overall message? That Twitter thinks it is in a MOREJP Mangalindan, Writer - Sep 8, 2011 2:56 PM ET
There are 29 colorful little buttons displayed on Apple's "Coming Soon" page -- its official list of countries where the iPhone 3G is scheduled to launch before the end of the year -- and carriers in some of those countries have let it be known that their launch day is Friday, Sept. 26.
Whether the phone will come to the entire list -- which runs the alphabetical gamut from Botswana to MOREPhilip Elmer-DeWitt - Sep 25, 2008 12:34 PM ET
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