Taiwanese computer maker Acer said Tuesday it has made its first major investment since overhauling its top management late last year, acquiring a 15.6 percent stake in a PChome subsidiary.
While declining to disclose the value of the deal, the statement said the market capital of PChomePay, the payment business of the leading Internet trade group, had increased to TW$450 million ($14.9 million) from TW$380 million as a result.
“Under the ICT industry’s paradigm shift Acer is going beyond hardware-based thinking; the investment in e-commerce and our self-built cloud (Build Your Own Cloud, ‘BYOC’) is our important deployment of ‘hardware + software + services’ transformation,” Acer Chairman and company founder Stan Shih said.
Acer termed the deal as part of the “corporate transformation” under way, led by the new management headed by Shih.
The board in November pulled 69-year-old Shih out of retirement to name him chairman and interim president, replacing two top executives who quit in the space of less than a month over the firm’s poor performance.
Then Acer appointed Jason Chen, a former senior executive of Taiwan Semiconductor Manufacturing Co, as both CEO and president, effective from January 1.
Shih has high hopes of Chen, describing him as the “ideal executive to lead our transformation”.
Acer posted a worse-than-expected net loss of Tw$13.1 billion ($442.2 million) in the three months to September.
Read more at: Phys.org