Published in News
Lenovo wants to buy Packard Bell
by David Stellmack on08 August 2007
Increase the Chinese market share
Lenovo Group Ltd. has announced that it is actively pursuing purchase of European computer manufacturer Packard Bell. Lenovo has said that it is negotiating the purchase through an unnamed independent third party and working with other parties and government entities as part of the proposed acquisition.
Reuters reports that the deal would quickly increase the Chinese computer maker's market share, even as it continues to digest IBM's PC business, which it bought in 2005.
The company is being bought from Lap Shun Hui, the former owner of eMachines and it looks like Lenovo is the only buyer.
Initially there were some rumours that Lenovo was competing with Acer for the company. Acer said in April it planned to buy a PC company in three to five months to win more market share and accelerate growth. However it appears that Packard Bell was not the target.
But a news story in the Hong Kong Economic Journal indicated that Taiwanese manufacturer Acer Inc. is interested in acquiring a PC company that is not a U.S. or Taiwanese company, and hinted that Packard Bell BV is also being courted by Acer. Things could get heated if both decide to pursue the acquisition.
Read more here and here.