Acer to acquire computer maker Gateway
The world's No. 4 computer vendor, Taipei-based Acer Inc., announced Monday that it has tendered a $710 million offer to purchase rival Irvine-based computer maker Gateway Inc.
'Acer is offering to buy Gateway for $1.90 per share in a deal expected to complete by December, pending regulatory approvals in Taiwan and the US,' Acer said in a statement.
According to the statement, the boards of directors of both firms have unanimously approved the offer and are waiting for closing conditions to take effect.
Acer's acquisition of Gateway, the third largest American PC vendor after Hewlett-Packard and Dell, will create a $15 billion-a-year computer firm with more than 20 million shipments annually.
'This strategic transaction is an important milestone in Acer’s long history,' said Acer Chairman J.T. Wang in the statement. 'This will be an excellent addition to Acer’s already strong positions in Europe and Asia.'
Acer President Gianfranco Lanci told the Associated Press that the acquisition would provide Acer coverage in all the major market segments and allow the firm to 'implement an effective multi-brand strategy.'
Worldwide, Acer is the fourth-largest PC maker behind Hewlett-Packard, Dell and the Chinese-based Lenovo Group Ltd.
Acer to acquire computer maker Gateway
