Acer Acquires Gateway Computers
Patrick "MACMAC" MacMillan
Acer, the huge Taiwan-based PC vendor and peripheral manufacturer, just announced that it has acquired US-based Gateway, the small two-person start-up that became a multibillion-dollar company.
Heres what they had to say:
Acer Inc., one of the world's leading branded PC vendors, announced today it has entered into a definitive agreement to acquire Gateway, Inc. Gateway is the fourth largest PC company in the US and a leading retail PC provider. The combination will create a multi-branded PC-company with over US$15 billion in revenues and shipments in excess of 20 million PC units per year.
Under the terms of the agreement, Acer will commence a cash tender offer to purchase all the outstanding shares of Gateway for $1.90 per share, which represents total equity value consideration of approximately $710 million.
Gateway has not been a substantial force in the personal computer sector for some time, therefore it is not entirely surprising to see the company taken over. It will be interesting to see whether the Gateway name continues, or is slowly phased out, and the remaining assets and personnel folded into Acer.
By the way, Acer also chose today to release their financial results for the first half of 2007.
Click here to read the press release.
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