Gateway Buys eMachines

In a surprising move, struggling PC-maker Gateway announced that it's purchasing bargain-basement PC-maker eMachines for about $235 million in cash and stock. Wayne Inouye, eMachines' CEO, will become Gateway's CEO, and Gateway founder Ted Waitt will relinquish the CEO title but remain as chairman. The combined company will be the third-largest PC maker in the world, after Dell and HP, and gives Gateway a larger presence in the ever-expanding market for low-end computers as well as a much stronger retail presence.

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