Acer has completed its acquisition of Gateway, making it officially the third largest PC vendor in the world.
In August, Acer revealed a plan to buy US PC vendor Gateway for around $710m through a tender offer for the company's shares. Since then, Acer has purchased enough shares to close the deal and has won approval from several major government agencies, including the US Committee on Foreign Investments in the US, a spokesperson for the company said today.
Gateway's stock ceased trading on the New York Stock Exchange as of its close on Tuesday.
The Acer-Gateway deal, and a pending arrangement for Gateway to buy European PC vendor Packard Bell, will put the Taiwanese company in a position to challenge HP and Dell in the US, while blocking rival Lenovo from gaining ground in Europe, analysts say.
Gateway will continue to operate under its own name as a subsidiary of Acer, and the company expects to expand its product offerings.