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Lenovo wants to buy Packard Bell

Posted on Wednesday, August 08 2007 @ 03:38:19 CEST by

Lenovo announced it's in acquisition talks with European PC maker Packard Bell. The goal of this acquisition would be to increase Lenovo's presence in the European market.
"Lenovo is in exclusive talks to acquire Packard Bell," a Packard Bell spokesman said.

He denied a media report that Lenovo was competing with Acer to buy Packard Bell.

Lenovo said it is also working with other parties or government bodies "in preparation for the entering into of definitive agreements for such proposed acquisition."

Earlier Tuesday, the Hong Kong Economic Journal reported that Lenovo and Acer were both vying for Packard, which John Hui bought from NEC in October 2006.

Acer said in April it planned to buy a PC company in three to five months to win more market share and accelerate growth. The company has declined to identify a potential target, saying only that it would not be a U.S. or Taiwanese company.
Source: Information Week



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