Lenovo Group Limited, China's largest computer operator, will transfer its non-telecom related service business to AsiaInfo Holdings, Inc., in a bid to capture the country's growing IT service market.

According to an agreement signed here Wednesday, with a stock transaction valued at 300 million yuan (36.3 million US dollars), the deal will make Lenovo one of the largest shareholders of AsiaInfo, a leading provider of high-quality software and solutions in China.

The new Lenovo-AsiaInfo division, created by the combination of Lenovo's non-telecom related IT services business and AsiaInfo's enterprise information solutions business, will provide security products and services, management consulting and other information technology services, Lenovo said.

Lenovo was listed on the Hong Kong Stock Exchange in 1994, and is a constituent stock of the Hang Seng Index. The group joined the sixth generation of the International Olympic Committee's global sponsorship program in March this year.

Last year, Lenovo posted 3.5 percent profit increase to 1.053 billion yuan (128 million US dollars).