text: In June 2011, Lenovo announced that it planned to acquire control of Medion, a German electronics manufacturing company. Lenovo said the acquisition would double its share of the German computer market, making it the third-largest vendor by sales (after Acer and Hewlett-Packard). The deal, which closed in the third quarter of the same year, was claimed by The New York Times as "the first in which a Chinese company acquired a well-known German company."
  This acquisition will give Lenovo 14% of the German computer market. Gerd Brachmann, chairman of Medion, agreed to sell two-thirds of his 60 per cent stake in the company. He will be paid in cash for 80 per cent of the shares and will receive 20 per cent in Lenovo stock. That would give him about one per cent of Lenovo.
  In September 2012, Lenovo agreed to acquire the Brazil-based electronics company Digibras, which sells products under the brand-name CCE, for a base price of R$300 million (US$148 million) in a combination of stock and cash. An additional payment of R$400 million was made dependent upon performance benchmarks. Prior to its acquisition of CCE, Lenovo already established a $30 million factory in Brazil, but Lenovo's management had felt that they needed a local partner to maximize regional growth. Lenovo cited their desire to take advantage of increased sales due to the 2014 World Cup that would be hosted by Brazil and the 2016 Summer Olympics and CCE's reputation for quality. Following the acquisition, Lenovo announced that its subsequent acquisitions would be concentrated in software and services.