Acer to acquire E-TEN
Acer has announced it has entered into a definitive agreement to acquire E-TEN, the Taiwan-based manufacturer of smart handheld devices for around nine billion Taiwan dollars (roughly £145 million).
The acquisition has been unanimously approved by the boards of directors of both E-TEN and Acer and is subject to standard closing conditions, including obtaining approval from Shareholders Meetings and the Governmental Regulators.
Acer says the acquisition of E-TEN, expected to close during the third quarter of 2008, is "in line" with their expansion strategy and follows the recent acquisition of Gateway and Packard Bell.
E-TEN will help Acer, who currently offers a range of PDAs, to "explore and develop entirely new solutions for mobile communication".
"This strategic transaction is yet another important milestone in Acer's long history of innovation", said J.T. Wang, chairman of Acer.
"The acquisition of E-Ten increases Acer's global footprint by giving us a strong and highly credible presence in the mobility segment."