Acer Buys Gateway

Taiwan computer manufacturer Acer Inc. purchased Irvine, California-based Gateway, Inc. in October 2007 for $710 million.Acer.com: Acer to Acquire US-Based Gateway, Inc. August 28, 2007 One of the reasons Acer made the purchase was to increase the company's presence in the United States. J.T. Wang, Chairman of Acer, stated: "The acquisition of Gateway and its strong brand immediately completes Acer's global footprint, by strengthening our US presence."Gateway.com: Acer to Acquire US-Based Gateway, Inc. (August 27, 2007) On August 27, 2007, the board of directors of both companies agreed to the terms of the sale.
Fast Facts:
1. Gateway is the fourth largest PC company in the U.S.Gateway.com: Acer to Acquire US-Based Gateway, Inc. (August 27, 2007)
2. Purchase per/share price: $1.90/share
3. Financial advisor to Acer: Citigroup Global Markets Inc.
4. Financial advisor to Gateway: Goldman, Sachs & Co.
5. The $1.90/share price represents a 57% premium over the stock price at the close of business on August 24, 2007Motley Fool: Gateway: From Cow to Cowed(August 27, 2007)
6. Gateway all-time high stock price: $82.50MSNBC.com: Taiwan's Acer to buy PC maker Gateway August 27, 2007
7. Acer is traded on the Taiwan Stock Exchange as: 2353
8. Acer was founded by Stan Shih in 1976

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