Acer Buys Gateway And The PC Wars Heat Up
Watch out Dell (DELL) and Hewlett-Packard (HPQ). Gateway (GTW) was bought by the third largest PC company in the world, Acer. The deal is for $710 million, or $1.90 a share, Gateway closed Friday at $1.21. At the same time,…
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Watch out Dell (DELL) and Hewlett-Packard (HPQ). Gateway (GTW) was bought by the third largest PC company in the world, Acer. The deal is for $710 million, or $1.90 a share, Gateway closed Friday at $1.21.
At the same time, Gateway is exercising its rights of first refusal to buy the share of the parent of Europe PC company Packard Bell. The combination of all three companies would give Acer a significant presence in Asia, Europe, and the US.
Acer rival Lenovo has been trying to buy Packard Bell, and may still make an offer.
With Dell’s global share of the PC market down to 16%, the new combined company could have a share close to 10%. With operations in three markets, it could give Dell a headache it does not need.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.