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Taiwan's Acer to buy Gateway
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Written by Daniel   
Monday, 27 August 2007 11:30

Taiwan's Acer to buy Gateway
By Reuters
Published: August 27, 2007, 4:44 AM PDT
 C/Net News
update Taiwan's Acer on Monday said it will buy Gateway for $710 million, creating the world's No. 3 PC maker, as Acer doubles its presence in Gateway's lucrative but highly competitive home market.
Acer said it would pay $1.90 per Gateway share, representing a premium of 57 percent over Gateway's last closing price.

 

Acer said the merger would create a company with more than $15 billion in sales and 20 million PCs shipped per year, adding that it would keep the Gateway brand in the United States.
"This acquisition of Gateway and its strong brand immediately completes Acer's global footprint by strengthening our U.S. presence," Acer CEO J.T. Wang said in a statement. "This will be an excellent addition to Acer's already strong positions in Europe and Asia. Upon acquiring Gateway, we will further solidify our position as No. 3 PC vendor globally."
Acer had said for months that it was in acquisition talks but had declined to name the target.... More

 

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