AsianFin – Lenovo Group has announced that its subsidiary has signed a final agreement to acquire Infinidat, a global provider of high-end enterprise storage solutions. The acquisition is subject to regulatory approval and other customary conditions, with the specific terms of the deal yet to be disclosed.

Founded in 2011, Infinidat is renowned for its high-end enterprise storage solutions and has raised $370 million in funding, with its last valuation exceeding $1 billion. This marks Lenovo’s first acquisition in Israel and is considered a rare move by Chinese tech giants in the region in recent years.

As part of the acquisition, Lenovo plans to establish a development center in Israel to expand its influence in the area. Lenovo stated that the acquisition will help the company extend its enterprise storage business from the current entry-level and mid-range markets to the high-end sector.