After all, what’s a Gateway post without at least one cow joke? The faltering PC maker has been given an infusion of new life from Taiwan’s Acer, who has purchased the company for $710 million. While Gateway’s position as the fourth largest PC seller in the US was nothing to sneeze at, the company’s growth has been negative of late. Acer, meanwhile, was on the way up, but had gotten stuck at about the number six spot (they hold down the four spot internationally).
The acquisition of Gateway, which still has to undergo government approval, would put Acer firmly in the number three sales spot behind Dell and HP, and just topping Apple, who had tied with Gateway last quarter.
More significantly, the deal also smacks Acer rival Lenovo upside the head by interfering with their plans to acquire PC maker Packard Bell. John Hui, the largest shareholder in Packard Bell, was also the founder of eMachines, which was bought by Gateway in 2004. Gateway is exercising its rights of first refusal on the Packard Bell deal, which leaves Lenovo out in the cold.
[via Macworld]
Looks like it's time to pick up some Acer stock. Anyone know their symbol? Are they trading in the US? I only seem to find them on the Londonn and Taiwan markets.