Gateway to acquire eMachines

By on February 1, 2004, 12:28 AM
Gateway plans to acquire rival eMachines in a bid to regain its footing in the PC game and broaden the distribution of its Gateway-branded consumer electronics devices at retail.

The Poway, Calif.-based company plans to purchase privately held eMachines for $30 million in cash and 50 million shares of stock. Based on Gateway's closing price of $4.09 per share Thursday, the total value of the deal would be approximately $234.5 million.

Read more: [URL=http://news.com.com/2100-1003_3-5150616.html?tag=nefd_lede]CNet News[/URL].

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