Menu
Acer buys 75 percent of Packard Bell parent

Acer buys 75 percent of Packard Bell parent

Taiwanese PC vendor Acer has purchased 75 percent of the parent company of European electronics maker Packard Bell for €31 million (US$45.8 million), Acer said in a statement to the Taiwan Stock Exchange yesterday.

The deal effectively seals Acer's bid to keep Chinese rival Lenovo from acquiring Packard Bell and gaining a foothold in Europe, where Acer enjoys strong sales.

Acer made the purchase with the help of another company it acquired recently, Gateway. The US company held the right to counter any offer for Packard Bell if it entered into talks with a third party, which Packard Bell did by speaking with Lenovo. In October, Gateway made a binding offer to buy shares from the largest shareholder in PB Holdings, Packard Bell's parent company.

That deal went through Wednesday, the Acer statement said. The company purchased 500 common shares of PB Holdings, in addition to 30,000 Class B convertible preferred equity certificates (CPECs) and 7000 class C CPECs.

Stock market analysts have argued that buying Packard Bell is a waste of time for Acer because the company is already strong in Europe. But industry researchers, and Forrester in particular, argue the move staved off a Lenovo ploy that might have hurt Acer on the continent.

Acer bought Gateway last year for US$710 million.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags acerforresterLenovopackard bell

Featured

Slideshows

Meet the leading female front runners of the Kiwi channel

Meet the leading female front runners of the Kiwi channel

Reseller News honoured the leading female front runners of the New Zealand channel at the 2018 Women in ICT Awards (WIICTA) in Auckland. The awards honoured standout individuals across seven categories, spanning Entrepreneur; Innovation; Rising Star; Shining Star; Community; Technical and Achievement.

Meet the leading female front runners of the Kiwi channel
Meet the top performing customer-centric Microsoft channel partners

Meet the top performing customer-centric Microsoft channel partners

Microsoft honoured leading partners across the channel following a year of customer innovation and market growth in New Zealand. The 2018 Microsoft Partner Awards recognised excellence within the context of the end-user, spanning a host of emerging and established providers.

Meet the top performing customer-centric Microsoft channel partners
Reseller News launches new-look Awards at 2018 Judges’ Lunch

Reseller News launches new-look Awards at 2018 Judges’ Lunch

Introducing the Reseller News Innovation Awards, launched to the channel at the 2018 Judges’ Lunch in Auckland. With more than 70 judges now part of the voting panel, the new-look awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors.

Reseller News launches new-look Awards at 2018 Judges’ Lunch
Show Comments