(IBM) - Get Report

is reportedly on the verge of a deal to sell a majority interest in its PC business to Lenovo Group, China's top PC company.

Lenovo is expected to pay about $2 billion, according to a Tuesday report in

The Wall Street Journal.

A deal could be announced as soon as Tuesday.

The possibility of a deal was first reported last Friday by

The New York Times


For some time now, IBM has been focusing on computer services and the business end of the market and is a distant No. 3 to PC industry leader


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is the other remaining major player.

IBM shares rose $1.94, or 2%, to $97.70 in premarket trading.