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E-TEN, the maker of Glofiish, is now sold to Acer. The E-TEN is, literately, the oldest Windows Mobile phones: they started at the same time with HTC and were making Windows Mobile phones. They only focused on the Touchscreen, unlikes HTC.
This news come to a bit of surprise. Acer, is a big notebook manufacturer in the world, decided to buy one of biggest Windows Mobile phone maker. E-TEN does have many great devices in their portfolio, but at the same time struggles with some issues. E-TEN had some issues that are being worked on and possibly be continued to work on by Acer. Some problems are like HSDPA not working in all territories.
In the agreement, Acer is paying by offer a share exchange with ratio of 1 to 1.07 for all the shares of E-TEN. That will give them about $290 million.
The funny thing is that Acer used to have pocket PC and smartphones market. They were selling those in China, but recently just stopped. Now, I wonder what they are trying to do. They didn't just buy E-TEN. Recently, they were buying some other companies, like 75% of Packard Bell. They still have a lot of money left in their arsenal too.
Although that it's official. E-TEN is not yet Acer's. Acer is waiting for a green light from the Shareholders Meetings and the government's approval. If everything goes well, the acquisition is expected to be closed in quarter 3 of this year (2008).
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