Acer buys mobile device developer E-TEN
Acer is to purchase mobile device designer and manufacturer E-TEN for $295.4 million
Acer is set to purchase Taiwanese pocket PC developer E-TEN Information Systems Co, in a $295.4 million deal.
Acer already offers a small range of handheld devices, but the acquistion will increase the company's mobility portfolio, according to Acer chaiman JT Wang.
"This strategic transaction is yet another important milestone in Acer's long history of innovation. The acquisition of E-Ten increases Acer's global footprint by giving us a strong and highly credible presence in the mobility segment," said Wang.
E-TEN is an OEM and ODM of mobile devices, and also sells consumer mobile devices under its own Glofiish brand. The company will be acquired through a share exchange for all outstanding E-TEN shares, which values the company at around nine billion Taiwense dollars. The deal is due to close during Q3 2008.
Gianfranco Lanci, president of Acer said: "The worldwide smart phone market is estimated to grow by more than 30% by 2011. Acer will enhance the competitiveness in the ultra mobile segment, by combining PC and communication technologies."