Lenovo is reportedly planning to acquire a controlling interest in German consumer electronics brand Medion for more than $331 million in cash and stock. The Wall Street Journal reports the move could help Lenovo expand its business in Europe.

Based in China, Lenovo was hardly a household name in the US before the company acquired IBM’s PC business in 2005. Now Lenovo is one of the 5 largest PC makers in the world.

Medion offers an Akoya line of budget laptops and netbooks, along with desktop computers, television, mobile devices, and other electronics.

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