LapShunHui
Latest
eMachines founder to buy Packard Bell from NEC
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.
eMachines founder jonesing for Gateway's retail biz
Just a couple of months after making an offer for Packard Bell's BV PC subsidiary, eMachines founder Lap Shun Hui has now set his sights on Gateway, the very same company he sold eMachines to for some $290 million all the way back in 2004. He doesn't want the whole company though, just its retail business (which includes eMachines), which he says would be more successful if it were separated from Gateway's other operations. So far, Hui has offered $450 million to take the business off Gateway's hands, but it doesn't look like he's gonna be quick to take no for an answer, even saying he'd consider acquiring all Gateway shares and splitting up the businesses himself if necessary. There doesn't appear to be any indication of Gateway's intent just yet, but its shareholders seem to have spoken, with Gateway's stock shooting up over 13 percent yesterday on the news.[Via Ars Technica]
NEC reportedly mulling offer for Packard Bell BV
Some of our older readers may remember using Packard Bell gear all the way back when the consumer electronics industry consisted of just radios and TV sets, and even the younger crowd probably played on a PB or two after the name was sold to a budget computer manufacturer in the mid-80's. Well even though the company withdrew from the US market back in 2000 after being plagued with quality and compatibility issues, it has actually been quite successful overseas under the guidance of NEC as Packard Bell Europe, where it's consistently been one of the top-selling PC manufacturers and even begun branching out to other product lines. Still, NEC seems to think that the tide has turned on old Packard Bell once again, as sources in Asia indicate that the Japanese corporation is looking to sell the Dutch Packard Bell BV PC subsidiary, and that eMachines founder Lap Shun Hui is looking to buy. Japan's Nihon Keizai Shimbun is claiming that Hui offered around $87 million for the division, probably hoping that he can use his skills to transform the 'Bell into the same type of property that convinced Gateway to shell out over $200 million worth of cash and stock for eMachines a few years back.
