Acer buys Gateway for $710 Million

Aug 27 2007, 8:11am CDT | by Luigi Lugmayr

Acer agreed to buy Gateway for $710 million. The combined company will be the 3rd largest PC maker in the world.

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."This strategic transaction is an important milestone in Acer's long history" said J.T. Wang, Chairman of Acer. "The acquisition of Gateway and its strong brand immediately completes Acer's global footprint, by strengthening our US presence. 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 number three PC vendor globally."

The PC business is a tough market. Whether or not the purchase makes Acer more competitive to Dell remains to be seen.
Via this Acer press-release.

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Luigi Lugmayr
Luigi is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.