Acer to acquire Gateway for $710m
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Acer agrees to take over US PC-maker Gateway creating the world's third largest producer of computers.
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Gateway has agreed to sell a unit targeting education, medium-size businesses, and government users to MPC for $90 million, the companies said Wednesday.
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TAIPEI, Taiwan -- Acer Inc. plans to acquire U.S. computer maker Gateway Inc. for $710 million in a deal that will push the Taiwanese company past China's Lenovo Group as the world's third largest vendor of personal computers.
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Gateway CEO Ed Coleman will resign from his position at the end of January, clearing the way for Acer&#39;s top executive in the Americas to take the helm, the Taiwanese company said Friday.Acer completed its US$170 million acquisition of Gateway in October. Coleman, who served as CEO of Gateway since 2006, oversaw the start of efforts to integrate the U.S. company with its new owner. However, the completion of those efforts will be the responsibility of Rudi Schmidleithner, head of Acer&#39;s Pan-America Organization, who will take charge of Gateway at the end of January.Acer announced Coleman&#39;s departure in a brief statement that thanked him for his contributions during the transition period that followed the acquisition announcement in August. The statement said Coleman made the decision to leave the company, but did not offer a specific reason.Gateway now&#160;operates as a subsidiary of Acer and maintains its own PC brand, which is well known in the U.S.
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IRVINE, Calif., Dec. 8  /PRNewswire-FirstCall/ -- Gateway, Inc. today announced that it has earned the top spot in Technology Business Research's Corporate IT Buying Behavior and Customer Satisfaction Study for Corporate Desktops for the third quarter of 2006.
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Acer, the world&#39;s third largest PC vendor, is taking aim at Japan this year as a key place to grow its booming business, the company chairman said.The Taiwanese company plans to extend its business model of working closely with, and sharing profits with, distributors, to Japan, where companies such as Sony and Toshiba dominate the market, Acer Chairman J.T. Wang told local media in Taipei. An Acer representative confirmed the statements.Acer also plans to release new products in the second or third quarter of this year aimed at ultra-mobility and the low-cost segment of the PC market, Wang said.The Acer representative declined to provide further details on what kind of devices the company may launch, but local media in Taiwan speculate that Acer is planning an ultra-low cost laptop PC to compete against&#160;Asustek Computer&#39;s Eee PC laptop.Asustek created the Eee PC to sell in emerging markets such as China and India. It carries an Intel Celeron processor, weighs less than a kilogram, has a 7-inch LCD (liquid crystal display) and can connect to the Internet wirelessly. The lowest-priced version costs NT$7,999 (US$248).The Eee PC has garnered so much attention for Asustek, which forecast it will sell 3.8 million of the devices this year, that many of its fellow Taiwanese&#160;competitors are developing rival devices. Taiwan&#39;s Micro-Star International&#160;(MSI) has said it&#39;s working on an ultra-low cost notebook&#160;that will use an extremely low voltage, low-cost microprocessor from Intel called Diamondville. Intel has said it will formally unveil the new chip at the Intel Developer Forum in Shanghai this April.Acer also believes its&#160;first quarter sales will be far better than last year, despite global economic worries. Wang told local media that Acer&#39;s sales will rise 15 percent to 20 percent year-on-year in the first quarter, which ends March 31.&#160;
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Acer Inc.'s shares fell sharply Tuesday, one day after the Taiwanese computer maker said it would acquire Gateway Inc. for $710 million.
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Gateway Inc. on Monday said its personal computers will be sold at consumer electronics retail giant Circuit City Stores Inc. locations starting next month.
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IRVINE, Calif., Nov. 2 -- Computer maker Gateway Inc. said Tuesday that it had agreed to repurchase stock held by America Online Inc.
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Hopes to milk consumer channels worldwide Gateway is to sell its education, government and SMB arm of the business to MPC Corporation in a deal valued at about $90m.â¦
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Taiwanese computer firm Acer agrees to take over US PC maker Gateway and eyes the possible purchase of Packard Bell in Europe.
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(InfoWorld) - Acer Inc.'s agreement to acquire Gateway Inc. has foiled Lenovo Group Ltd.'s plans to buy PC vendor Packard Bell BV, and could leave Acer owning both Gateway and Packard Bell. On August 7, Lenovo revealed it was in discussions with Packard Bell over a possible acquisition. At the time,Â it looked like Lenovo had beaten Acer, which was also interested in acquiring the company. However,Â Acer's plan to buy Gateway for $710 million, announced Monday, trumps anything Lenovo brings to the table in its negotiations with Packard Bell. In 2006, Gateway signed an agreement with John Hui, Packard Bell's largest shareholder, that gives Gateway the right of first refusal if he decides to sells PB Holding Co. SARL, the parent company of Packard Bell. What that means is that if Packard Bell wants to enter into a final agreement to be purchased, the company has to ask Gateway first, said Y.T. Du, of Citigroup Global Markets Inc., which represented Acer in the negotiations. Gateway can refuse the deal if it wants and enter into purchase talks with Packard Bell, he said. That is exactly what Gateway has done, announcing plans to exercise its right of first refusal at the same time the Acer deal was unveiled. The agreement between Hui and Gateway is rooted inÂ Gateway's 2004 acquisition of eMachines, a PC vendor that Hui founded. When Hui acquired his stake in PB Holding Co., he granted the right of first refusal to Gateway in exchange for the company waving parts of the noncompete agreement that Hui signed when eMachines was sold. Now that Gateway has entered into talks to acquire PB Holding from Hui, Acer could end up owning both Gateway and Packard Bell. While a Packard Bell acquisition would increase Acer's market share in Europe, a deal also means Acer will face having to integrate two companies with its existing operations instead of only one. "Acer is still really strong in Europe," said Bryan Ma, director of personal systems research at IDC Asia-Pacific. Ma worried that Acer's desire to acquire Packard Bell is driven more by a desire to slow Lenovo's growth in Europe, rather than a pressing need to strengthen its own position there. A Lenovo spokeswoman was not immediately available to comment. Â  With additional reporting by Dan Nystedt in Taipei. Â
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Gateway Inc. , the computer  maker that recently shuttered its chain of 188 stores, will  begin selling its desktops at CompUSA Inc.'s outlets later this  week, the two companies said on Monday.
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Computer maker Gateway Inc. on Tuesday said it agreed to buy back about $316 million of its stock from Internet provider America Online Inc.
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Gateway CEO will resign at the end of January, clearing the way for Acer's top executive in the Americas to take the helm.
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IRVINE, Calif., June 1  /PRNewswire-FirstCall/ -- Gateway, Inc. today announced that it's won the leading position in Technology Business Research's (TBR) Corporate IT Buying Behavior and Customer Satisfaction Study for Corporate Desktops in the first quarter of 2007.
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In an interview published today, Acer Chairman and CEO J.T. Wang vowed to step down if his company's plans to buy Gateway for $710 million fail.