Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 25, 2008 7:50:08 AM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Acer to Buy Gateway for $710M

Posted Aug 27, 07 1:38 PM CDT in Technology,  Business 

(Newser) – Gateway’s stock jumped 50% today on news that Taiwan’s Acer will buy the former PC giant for $1.90 a share, MarketWatch reports. The acquisition leapfrogs Acer over Lenovo to the No. 3 spot in world computer sales. Meanwhile, Gateway said it will execute its right of first refusal to buy Packard Bell's parent company, foiling Lenovo's bid to acquire PB.

Though still a top seller in the US, Gateway has slid dramatically from its pre-tech-crash heyday, when it was worth an estimated $27 billion. Its second quarter US sales declined 7% from last year, compared to a 164% rise for Acer. Acer’s CEO says the deal completes the company's global footprint by increasing its US market share.

Source MarketWatch

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Subnotebooks Don't Quite Measure Up

    May 8, 08 3:02 PM CDT
    Subnotebooks Don't Quite Measure Up Hamstrung by poor battery life, and burdened with an overly weighty Vista operating system that makes starting up a drag, a pair of new subnotebook computers offer a glimpse of what could be—but isn’t quite, writes Wall Street Journal tech guru Walt Mossberg. Lenovo’s IdeaPad—a junior ThinkPad—and the U2E, a quirky offering from Asus, are pricey to boot. More »

  • Lenovo Debuts Hip Laptop Line

    Jan 3, 08 12:17 PM CST
    Lenovo Debuts Hip Laptop Line Longtime business stalwart Lenovo will unleash a stylish new line of laptops on a crowded consumer field, the Wall Street Journal reports. Lenovo’s IdeaPad line will offer sporty red aluminum-alloy cases and higher-performance gaming specs, as well as novel features such as face-recognition software that lets users log in simply by looking at the screen. More »

  • Gambling Firm Agrees to Buyout

    Jun 15, 07 4:08 PM CDT
    Gambling Firm Agrees to Buyout The casino-operator buyout spree continued today as Penn National Gaming agreed to be acquired by two private-equity firms for $8.9 billion. The deal, which allows the company to solicit bids for 45 days, includes $2.8 billion in debt. News of the $67-a-share offer, a 31% premium over yesterday's closing price, drove the stock up to $62.12 at close. More »

A Gateway computer is on display for retail sale at a Best Buy store in Los Angeles on Aug. 23, 2006. Based Irvine, Calif., Gateway, Inc. has recently implemented layoffs and cuts as it struggles with...   (Associated Press)
A Gateway computer is on display for retail sale at a Best Buy store in Los Angeles in this Aug. 23, 2006 file photo. Acer Inc. plans to acquire U.S. computer maker Gateway Inc. for $710 million in a...   (Associated Press)
Gateway CEO Ted Waitt poses by a display of Gateway's LCD televison screens playing DVD's at the company headquarters in Poway, Calif., in this Nov. 5, 2003 file photo. Acer Inc. plans to acquire U.S....   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Related coverage

The plot thickens

Threads (1 of 1)

Tags

computer  • acquisitions  • stocks  • Lenovo  • Acer


Loading...

Loading...

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »