Acer to Acquire Gateway
 

Taiwan's Acer Inc. said it had reached an agreement to acquire Gateway Inc. in a deal that values the U.S. company at about $710 million and pushes Acer past Lenovo Group Ltd. as the world's No. 3 vendor of personal computers.

The deal appeared to mark a double blow to Lenovo, which has been the world's No. 3 PC vendor since buying the PC business of International Business Machines Corp. in 2005. Lenovo disclosed earlier this month that it is in talks to buy a stake in Packard Bell BV, a Netherlands-based PC maker. That deal was aimed at giving the Chinese company a leg up in the European consumer market, where Acer is especially strong.

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