HONG KONG–(BUSINESS WIRE)– Lenovo Group today announced that it is acquiring the entire interest of Lenovo Mobile Communication Technology Ltd. from a group of investors led by Hony Capital, the private equity arm of Legend Holdings. Consideration of the acquisition is approximately US$200 million in cash and Lenovo shares. Today's announcement signals that Lenovo is gearing up its efforts in the burgeoning mobile Internet market in China. Lenovo Mobile now ranks No.3 in China's mobile handset market and is the No.1 domestic brand. The transaction is conditional upon Lenovo independent shareholder approval.