In a joint press announcement, IBM and Lenovo spell out some of the particulars about the deal announced early Thursday that – if approved by government regulators – will affect some 7,500 IBM workers and move much of IBM’s server business to Lenovo.

Some key points:

1. IBM is not exiting the server business. The deal only affects lower-cost so-called x86 servers.

2. IBM, annually a global leader in server sales, retains its System z mainframes, Power Systems, Storage Systems, Power-based Flex servers, and PureApplication and PureData appliances.

3. Lenovo is acquiring IBM System x, BladeCenter and Flex System blade servers and switches, x86-based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, blade networking and maintenance operations.

4. Some 7,500 IBM employees are affected, including an unspecified number in Raleigh. They “are expected to be offered employment by Lenovo,” the companies said.

5. IBM will continue to develop software for servers, including Windows and Linux.

6. IBM and Lenovo say they “plan to enter into a strategic relationship” related to other products, including a global OEM (original equipment manufacturer) and reseller agreement for a variety of products. Those include:

  • Entry and midrange Storwize disk storage systems
  • Tape storage systems
  • General Parallel File System software
  • SmartCloud Entry offering
  • Elements of IBM’s system software portfolio, including Systems Director and Platform Computing solutions.

7. Once the deal is closed, Lenovo will assume responsibility for customer service and maintenance

8. IBM will provide “maintenance delivery on Lenovo’s behalf for an extended period of time”