Acer buys Gateway
Acer Inc. plans to acquire Gateway Inc. in a deal worth $710 million that Acer says will make it the world’s third-largest PC vendor.
Under terms of the agreement announced Monday, Acer will purchase all of Gateway’s outstanding shares for $1.90 per share. The deal has already been approved by the boards of directors at both companies and should be completed by the end of this year, subject to government approval, Acer said in a statement. Gateway’s shares ended at $1.21 Friday on the New York Stock Exchange.
Update: Acer plans to keep the Gateway brand. InfoWorld reports:
People fearing they might miss Gateway’s signature black-and-white dairy cow PC boxes after the company is acquired by Acer Inc. have little reason to worry: Acer not only plans to keep the Gateway Inc. brand just the way it is, the Taiwanese company hopes to expand it.
“A strong U.S. brand such as Gateway’s can be expanded overseas into other markets,” said Gianfranco Lanci, president of Acer, in a video feed at the Taipei news conference to announce the deal.
I haven’t seen any news about what will happen to the eMachines brand, which Gateway acquired previously.
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