European Commission approves Acer's buying Packard Bell
- — 28 February, 2008 07:21
The European Commission Wednesday gave the go-ahead for the takeover of Dutch computer maker Packard Bell by Acer of Taiwan, after a one-month examination of the deal.
In a statement Europe's top competition authority said the deal "would not significantly impede effective competition," even though the companies compete head-on in the markets for desktops and laptops for professional and private use.
"The market would remain competitive post-merger in all segments of the PC sector with established alternative suppliers such as Hewlett-Packard, Dell, Fujitsu-Siemens, Toshiba, Sony and Lenovo," the Commission said.
Acer announced it was buying a 75 per cent stake in Packard Bell's parent company PB Holdings Co. for US$45.8 million at the end of January.
The move is seen as defensive, to prevent Chinese computer maker Lenovo from buying Packard Bell to gain a foothold in the European market. Acer commands a strong position in Europe, especially in the laptop market.
