Acer acquires 75% of Packard Bell for 31 million euros

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Acer acquired 75 percent of European company Packard Bell in anticipation of rival Lenovo’s intentions. The purchase stood at 31 million euros and brings a new dynamism to Acer’s presence in the European market, where it already has a significant share in terms of product sales.

The deal was supported by Gateway, a company acquired by Acer last year for $ 710 million. This is because the American manufacturer had a preemptive right over Packard Bell if it were involved in any negotiations, as it ended up with Lenovo. At stake is a 2006 agreement, which Gateway signed with John Hui, Packard Bell’s largest shareholder, which gave him the veto right in PB Holding’s sales decisions.

This acquisition took its first steps in October. This is because, after being acquired by Acer, Gateway announced that it wanted to consolidate the plans it already had before the purchase, namely the acquisition of John Hui’s entire stake in PB Holdings SARL, which owns the manufacturer.

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