We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
80,259 News Articles

Acer buys smartphone manufacturer E-Ten

£150m deal for phone and satnav maker

Acer has agreed to buy handheld device maker E-Ten Information Systems, a deal which will put Acer in the position to 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, in addition to other handheld electronic devices such as GPS devices and pocket PCs.

The deal is an all-stock transaction valued at NT$9bn (£150m). 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.

The boards of directors at both companies have already approved the deal, but they still face shareholder votes and approval by government regulators.

The companies expect the deal to close in the third quarter of this year.

Acer cited mobility products as the main reason for the purchase, especially smartphones.

"The acquisition of E-Ten will allow Acer to play a key role in the development of the dynamic, fast-evolving market of smart handheld devices as well as ultramobile devices in the future and will help bring Acer’s cutting edge mobile solutions to an even wider audience," Acer said in a statement.

The E-Ten deal follows a string of acquisitions by Acer, including the purchase last year of PC maker Gateway and the recent deal to buy Packard Bell, the European electronics maker.


IDG UK Sites

Where to buy iPhone 6 and iPhone 6 Plus in the UK: Launch day price, deals and contracts

IDG UK Sites

Is Apple losing confidence in itself?

IDG UK Sites

Professional photo and video techniques for perfect colours

IDG UK Sites

How (and where) to buy an iPhone 6 or iPhone 6 Plus in the UK. Plus: What to do if you pre-ordered...