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eMachines founder to buy Packard Bell from NEC

Cyrus Farivar

You know how some things go out of fashion here in the US, but they continue to live on in Europe? We're talking about things like Speedos, very colorful shirts and house music. In the computer biz, add Packard Bell to that list. As we reminded you back in late June, Packard Bell withdrew from the American market in 1999, but has remained successful in Europe under the direction of NEC. Well, yesterday, the company announced that its sale of its beloved subsidiary to eMachines founder Lap Shun Hui should be complete by the end of the month. No word on how much LSH offered for PackBell (The Wall Street Journal quoted estimates of as much as $87 million) but the head of the company, Aymar de Lencquesaing told The New York Times that its annual revenue last year was about $1.9 billion and added the company is "slightly profitable." Lap Shun Hui also offered to buy Gateway for $450 million, but was turned down by that company's board of directions. We guess Mr. Hui doesn't take well to rejection -- either way, we expect to spot him bumping to house music in an Amsterdam nightclub any day now.

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