Gateway to Take Over Packard Bell
Gateway yesterday announced that it has agreed to take over the controlling stake in Paris-based Packard Bell.
The announcement has been on the cards for some time with Gateway (who was bought by Acer in August) duking it out with PC vendor Lenovo over Packard Bell. The Move is a bid on Acer’s part to overtake Lenovo for the position of number three in the PC manufacturing rankings.
Acer has agreed to fund the purchase of Packard Bell but Gateway has declined the offer from Lap Shun (John) Hui to purchase all shares in the PB holding company and Clifford Holding company who, combined, own 75% of Packard Bell stock.
Hui is a former executive of eMachines which was bought by Microsoft in 2004 for just over a quarter of a million dollars.
No financial details of the deal between Gateway and Packard Bell have been released as of yet.
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