Global #3 PC manufacturer Acer has reached an agreement to acquire Gateway, America's #3 manufacturer, for $710 million. And Gateway will use some of that immediate cash infusion to purchase Packard Bell.
As officials from all three major companies involved confirmed to the press during the overnight hours in North America, global #3 PC manufacturer Acer has reached an agreement to acquire Gateway, America's #3 manufacturer, for $710 million.
And in a possibly contingent move, Gateway will use some of that immediate cash infusion to exercise its right to preclude Lenovo from acquiring Packard Bell from California investor Lap Shun Hui, who purchased it from NEC just last year.
Assuming the multi-part deal closes by this December as currently scheduled, the move is expected to double the number of PCs shipped under the Acer brand both to the US, where it's currently the #6 supplier, and to China where the Packard Bell brand enjoys prominence. If that happens, Acer could find itself wrestling for the first time with Dell for the global #2 position throughout 2008.
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