Chinese personal computer maker Lenovo Group says it's buying small U.S. software company Stoneware as it seeks to gain a foothold in the rapidly growing field of cloud computing.

Lenovo did not say how much it was paying for Carmel, In.-based Stoneware Inc., but said the acquisition would not affect earnings.

Lenovo buys cloud computing firm

Lenovo buys cloud computing firm

The computer maker said Tuesday it was buying Stoneware to “enhance and expand” its cloud computing business. The term refers to storing documents and software applications at remote data centers and allowing users to access them through smartphones, tablet computers, laptops and other Internet-connected devices.

Stoneware has 67 employees based in Indiana and Salt Lake City. The purchase is expected to be completed by the end of 2012.

Associated Press

Publish date: September 20, 2012 10:59 am| Modified date: December 19, 2013 1:22 am

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