Acer finalizes buyout of Packard Bell
updated 11:50 am EST, Fri February 1, 2008
Acer Packard Deal Final
Acer has successfully finalized its plans to buy control of Packard Bell, according to an update provided by the former company. First begun in August, the deal will give Acer a 75 percent stake in Packard Bell, handing control of the smaller, Europe-based PC maker to the larger firm. The deal was said to have been helped by Acer's recent acquisition Gateway, which reserved the right to counter-offer any potential bidders on Packard Bell.
The investment is believed to have thwarted an attempt by Lenovo to buy Packard Bell, which would have given the Chinese company a greatly increased influence in the region. Acer has typically performed well in Europe, making the current buyout a defensive measure.
It was not mentioned whether the deal will see Packard Bell expand beyond Europe. The company was often considered a staple of the US computer industry but left to focus on Europe after continuously poor American PC sales. Today, the company chiefly produces notebooks as well as portable media players.
