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ACQUISITION: Acer takes over E-Ten
Posted by Arne Hess - on Monday, 03.03.08 - 17:46:02 CET under 01 - General News - Viewed 11854x
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Acer Inc. one of the world's third-largest branded PC vendors today announced it has entered into a definitive agreement to acquire E-TEN Information Systems Co., Ltd., a world's renowned designer and manufacturer of smart handheld devices and Windows Mobile smartphones, known under the Glofiish brand.
Under the terms of the agreement, Acer Inc. 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 NT$ 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. It's expected that the acquisition is closed during Q3 2008.

Cheers ~ Arne

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