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  Acer Acquiring Gateway for $710 Million
Time: 13:53 EST/18:53 GMT | News Source: eWeek | Posted By: Jonathan Tigner

In a move that looks to create one of the world's largest PC vendors, Acer announced Aug. 27 that it would acquire Gateway for $710 million, according to a joint statement from both companies.

The acquisition, for about $1.90 a share, aims to create the world's third-largest PC vendor. The combined revenue of the two companies is expected to top more than $15 billion and their combined shipments will equal out to about 20 million desktops and laptops annually.

The deal is expected to close in December.

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