Acer acquires E-TEN

Acer will offer a share exchange with ratio of 1: 1.07 for all the outstanding shares of E-TEN, which represents US$295.43 million. The acquisition has been unanimously approved by the boards of directors of both E-TEN and Acer and is subject to standard closing conditions, including obtaining approval from Shareholders Meetings and the Governmental Regulators. The acquisition is expected to be finalised in Q3/08 The acquisition of E-TEN is another step in Acer’s expansion strategy, following the recent acquisition of Gateway and Packard Bell. The acquisition will bring Acer a foothold in this fast-evolving market of smart handheld devices.