Personal computer manufacturer Acer has closed on its acquisition of Packard Bell in Europe, thus sealing its efforts to prevent Lenovo from acquiring a larger foothold on the Continent.
Lenovo had entered into negotiations to acquire Packard Bell last year when Acer bought U.S.-based Gateway for more than $700 million. That deal, however, gave Acer Gateway’s right of first refusal to buy Packard Bell.
Acer closed on the Packard Bell deal last week, spending $45.8 million for a 75 percent interest in the company. Acer is based in Taiwan.
Through the Gateway deal, Acer climbed past Lenovo, which has its global headquarters in Morrisville, for third place in PC manufacturing behind HP and Dell.