Acer Inc., the world's fourth-largest computer vendor by unit sales, plans to acquire U.S. computer maker Gateway Inc. for US$710 million, the Taiwanese company said.
Acer is offering to buy Gateway for $1.90 per share in a deal expected to complete by December, pending regulatory approvals in Taiwan and the U.S., Acer said in a statement.
The acquisition has been unanimously approved by the boards of directors of both Gateway and Acer and is subject to standard closing conditions, it said.
Gateway is the third-largest PC manufacturer in the U.S. by market share after Hewlett-Packard Co. and Dell Inc.
The acquisition will create a multi-branded computer company with over $15 billion in revenues and shipments in excess of 20 million units per year, Acer said.