Acer acquires smartphone maker E-Ten for $291 million
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Acer, the world’s third largest PC vendor, has signed an agreement to buy handheld device maker E-Ten Information Systems of Taiwan. The acquisition will put Acer in the position to market and further develop a range of handheld devices, including smartphones and GPS devices.
E-Ten has developed and sold several smartphone models over the past several years, including its Windows Mobile 6.0-based Glofish smartphone with GPS (global positioning system), in addition to other handheld electronic devices such as GPS devices and pocket PCs. The deal is an all-stock transaction valued at NT$9 billion (US$291.3 million). Acer is offering to exchange one share of its stock for every 1.07 shares of outstanding E-Ten stock to pay for the deal.
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