Gateway has confirmed that it to purchase the controlling stake of European computer vendor, Packard Bell for an undisclosed sum.
Gateway said that it would purchase the shares of PB Holdings – Packard Bell's parent company – from Lap Shun Hui and Clifford Holdings. Acer expects completion of the deal before the end of the year, prior to Gateway's acquisition.
The purchase was alluded to at the recent Acer global press conference by president Gianfranco Lanci. He, however, refused to talk pricing specifics saying: "We're not talking hundreds of millions."
The report comes as Gulf News reported that Acer is expected to achieve more than $700 million in revenue in the EMEA region. VP of Acer in EMEA Emanuele Accolla said that the company had earned $180 million in the second quarter, slightly lower than expected due to political instability in Turkey.