Acer to Snatch Three Quarters of Packard Bell's Shares

Acer has just struck a deal with European electronics maker Packard Bell and purchased 75 percent of it in an attempt to increase its brand awareness in Europe. It seems that Acer is constantly shopping in order to consolidate its position outside the Taiwanese market.

The 75 percent of Packard Bell cost Acer $45.8 million, according to the company's statement at the Taiwan Stock Exchange. The deal is aimed at keeping the Chinese arch-rival Lenovo from purchasing Packard Bell, which would allow it to extend on the European market, where Acer is currently enjoying a top position.

Acer has been one of the fastest growing PC companies, and now it is ranked as world's number three PC vendor. The company has started the shopping spree back in August, when it purchased the US-based PC maker Gateway for about $710 million, in order to increase its brand awareness on the US market.

This previous purchase played an essential role in Acer getting to Packard Bell, as gateway held "the right of first refusal", as well as the right to counter-act any offer from another company. Packard Bell however, entered into talks with Acer's worst enemy, the Chinese Lenovo. Moreover, back in October, Gateway made a bidding for buying shares from the largest shareholder in PB Holdings, which is Packard Bell's mother corporation.

The deal went effective as of yesterday, according to an Acer statement. The Taiwanese PC manufacturer purchased 500 common shares of PB Holdings, as well as 30,000 Class B convertible preferred equity certificates (CPECs) and 7,000 class C CPECs. Although market analysts claim that Packard Bell is not so important for Acer on the European market as it is already one of its leaders, it is a move that will keep the Chinese rival Lenovo away from the European playground.