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Acer buys E-TEN March 03, 2008 [Pocket PC phone] | By Edward J. R. We have been encountering E-TEN at CeBIT for many years because they are one of the oldest makers of Windows Mobile phones: they started at the time when HTC started and they were making Windows Mobile phones with touch-screens only. We have been interviewing president of E-TEN and talking to them many times at CeBIT... and now, today, the big news breaks: Acer - one of the biggest PC and notebook manufacturers in the world - is buying E-TEN! While E-TEN had some issues (HSDPA was not working in all territories in some of their phones) they were the first to release a pocket-size Pocket PC phone with VGA display and all their contemporary phones offer built-in GPS. Since Asus is using their advertisements of notebooks to sell also their Windows Mobile phones, this acquisition means that E-TEN's phones will get much more exposure too! It is a very good news for Windows Mobile! More information from Acer follows. * * * * * Acer to acquire E-TEN, the Taiwan-based manufacturer of smart handheld devices Acer Inc., the world's third-largest branded PC vendor announced it has entered into a definitive agreement to acquire E-TEN Information Systems Co., Ltd., the world-renowned designer and manufacturer of smart handheld devices. Under the terms of the agreement, Acer Inc. will offer a share exchange with ratio of 1: 1.07 for all the outstanding shares of E-TEN, which represents total equity value consideration of approximately NT$9 billion. The new issued shares will represent approximately 6% of total Acer outstanding shares. 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. We expect the acquisition to close during Q3 2008. Acer has always believed in the power of mobility and has developed a world-class reputation for cutting-edge mobile solutions. Mobility is in constant evolution. To stay ahead of the changes, the technology and applications must adapt to the true needs of business and consumer users alike. The acquisition of E-TEN is in line with Acer's expansion strategy and follows the recent acquisition of Gateway and Packard Bell, further strengthening its foothold in the fast-evolving mobile communications segment and completes Acer's range of mobile solutions. With a strong reputation for R&D and the customer-oriented culture of both companies, combined with Acer's considerable and now global marketing power, E-TEN will help Acer explore and develop entirely new solutions for mobile communication. "This strategic transaction is yet another important milestone in Acer's long history of innovation," said J.T. Wang, Chairman and CEO of Acer Inc. "The acquisition of E-TEN increases Acer's global footprint by giving us a strong and highly credible presence in the mobility segment." "The worldwide smart phone market is estimated to grow by more than 30% by 2011," added Gianfranco Lanci, President of Acer Inc. "Acer will enhance the competitiveness in the ultra mobile segment, by combining PC and communication technologies". E-TEN has released a number of hugely successful Pocket PC phones that featured combinations of GPRS, Wi-Fi, Bluetooth, GPS, and 3.5G GSM functionality each enhanced by exclusive in-house developed software applications. In 2006, in recognition of the fact that its consumer orientated devices were proving just as successful as the company's IT centric product lines, E-TEN showed its commitment to the consumer sector by adopting the new brand name, Glofiish, for its Pocket PC Phones and accessories. The acquisition of E-TEN will allow Acer to play a key role in the development of the dynamic, fast-evolving market of smart handheld devices as well as ultra mobile devices in the future and will help bring Acer's cutting edge mobile solutions to an even wider audience. Source: Acer's news story.  Post your comment (free registration is required to post, but if you register you can edit your posts later)
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