Acer announced today that it has completed the merger of its indirect wholly owned subsidiary with Gateway. Gateway’s common stock was suspended from trading on New York Stock Exchange as of the close of yesterday’s business day.
As a result of the merger, all outstanding shares of Gateway common stock other than shares as to which appraisal rights are perfected under Delaware law, were converted into the right to receive $1.90 US in cash per share.
Acer ranks as the world’s No. 4 branded PC vendor, and are hoping the acquisition of Gateway well help get them in the top three. Many consumers are hoping this will bring about new notebooks and Tablet PCs.
There still is no word if Acer will completely change the Gateway brand or if they will continue to use it in their product line.
On a worldwide note, the Acer-Gateway-Packard Bell merger is supposed to push Taiwan’s Acer ahead of Chinese rival Lenovo in terms of market share and global unit sales.
Lenovo who currently holds the No. 3 spot in the marketplace is Acer’s current competition because Dell and HP hold the No. 1 and No. 2 spots. Acer’s purchase of the less-than-successful Gateway and Packard Bell brands makes sense for them in the long haul.