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Written by CB Team
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Monday, 03 March 2008 |
 This bit of news could be good news for consumers as it seems Acer has entered into a definitive agreement to acquire E-TEN, the designer and manufacturer of smart handheld devices.
Under the terms of the agreement, Acer will offer a share exchange with ratio of 1: 1.07 for all the outstanding shares of E-TEN, which represents total equity value consideration of approximately $9 billion. The new issued shares will represent approximately 6% of total Acer outstanding shares.
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.
According to the blur the acquisition will complete during Q3 2008.
The acquisition of E-TEN is in line with Acer’s expansion strategy and follows the recent acquisition of Gateway and Packard Bell, further strengthening its foothold in the fast-evolving mobile communications segment and completes Acer’s range of mobile solutions.
E-TEN has released a number of successful Pocket PC phones that featured combinations of GPRS, Wi-Fi, Bluetooth, GPS, and 3.5G GSM functionality each enhanced by in-house developed software applications.
In 2006, in recognition of the fact that its consumer orientated devices were proving just as successful as the company’s IT centric product lines, E-TEN showed its commitment to the consumer sector by adopting the new brand name, Glofiish, for its Pocket PC Phones and accessories.
The acquisition of E-TEN will allow Acer to play a key role in the development of the fast-evolving market of smart handheld devices as well as ultra mobile devices in the future and will help bring Acer’s mobile solutions to an even wider audience.
Acer
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Last Updated ( Monday, 03 March 2008 )
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