Gateway sells professional business segment to MPC

As part of the transaction, MPC will assume responsibility for all operations and warranty support associated with Gateway's Professional business, valued at approximately US$60 million. In addition, Gateway will invest approximately US$10 million in MPC in the form of a note issuance tied to excess inventory at the GCC. Gateway will receive a 19.9% equity stake in MPC Corporation at the close of the transaction. As part of the transaction, Gateway will take an impairment charge of approximately US$16 million predominantly related to IT assets associated with the Professional business.