Taiwan Computer Giant Acer to Buy Gateway

29 August 2007

TAIWAN: Computer maker Acer has inked a $710 million (€519m; £352.7m) deal to buy Californian-based competitor Gateway.

The acquisition, due to be completed at the end of this year, will give Acer increased access to the US market, boosting it to third place in the global computer-manufacturing league, ahead of Chinese giant Lenovo.

The company is also planning to use its right of first refusal to purchase a majority stake in PB Holding, parent company of computer maker Packard Bell, thus thwarting Lenovo's previously-announced takeover attempt.

Data sourced from The Times Online (UK); additional content by WARC staff