Acer to acquire smartphone maker E-Ten
Acer, the world's third largest
PC vendor, has signed an agreement to buy handheld device maker E-Ten
Information Systems of Taiwan.
The acquisition will put Acer in the position to market and further develop
a range of handheld devices, including smartphones and GPS devices. E-Ten has
developed and sold several smartphone models over the past several years, including
its Windows Mobile 6.0-based Glofish smartphone with GPS (global positioning
system), in addition to other handheld electronic devices such as GPS devices
and pocket PCs.
The deal is an all-stock transaction valued at NT$9 billion (US$291.3 million).
Acer is offering to exchange one share of its stock for every 1.07 shares of
outstanding E-Ten stock to pay for the deal.
The boards of directors at both companies have already approved the deal, but
they still face shareholder votes and approval by government regulators.
The companies expect the deal to close in the third quarter of this year.
Acer cited mobility products as the main reason for the purchase, especially
smartphones.
"The acquisition of E-Ten will allow Acer to play a key role in the development
of the dynamic, fast-evolving market of smart handheld devices as well as ultra
mobile devices in the future and will help bring Acer’s cutting edge mobile
solutions to an even wider audience," Acer said in a statement.
The E-Ten deal follows a string of acquisitions by Acer, including the purchase
last year of PC maker Gateway and the recent deal to buy Packard Bell, the European
electronics maker.
IDG News Service
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