Acer has successfully finalized its plans to buy control of Packard Bell, according to an update provided by the former company. First begun in August, the deal will give Acer a 75 percent stake in Packard Bell, handing control of the smaller, Europe-based PC maker to the larger firm. The deal was said to have been helped by Acer's recent acquisition Gateway, which reserved the right to counter-offer any potential bidders on Packard Bell.
The investment is believed to have thwarted an attempt by Lenovo to buy Packard Bell, which would have given the Chinese company a greatly increased influence in the region. Acer has typically performed well in Europe, making the current buyout a defensive measure.
It was not mentioned whether the deal will see Packard Bell expand beyond Europe. The company was often considered a staple of the US computer industry but left to focus on Europe after continuously poor American PC sales. Today, the company chiefly produces notebooks as well as portable media players.