Dell Inc, struggling to revive profit growth and take back the lead in the personal-computer market, should boost sales by acquiring Acer Inc (宏碁), Sanford C. Bernstein & Co said.
Acer, the third-ranked PC maker, would give Dell access to international customers and resellers, said Toni Sacconaghi, a New York-based analyst at the firm.
Dell, which lost the PC market lead to Hewlett-Packard Co in 2006, sells most of its computers directly to customers — mainly in the US.
“Acer has very strong notebook share outside the US, providing Dell with exposure to faster-growth markets,” he said.
“Acer and Dell have complementary distribution models, as Acer is almost entirely indirect,” Sacconaghi said.
Chief executive officer Michael Dell has been working to expand sales by improving Dell’s notebook computers and forging ties with retailers such as Wal-Mart Stores Inc.
The recession is hampering his efforts to rebound. After reporting a 16 percent drop in revenue last quarter, the company said it expects the PC slump to be “protracted.”
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With Taiwan-based Acer, which acquired rival PC maker Gateway Inc in 2007, Dell would gain the scale it needs to negotiate better prices on PC parts from suppliers, Sacconaghi said.
If Dell paid US$5.7 billion for Acer — a 20 percent premium — the company could add US$0.12 to its earnings per share in fiscal 2010, Sacconaghi said.
He currently projects US$1.14 for the period, which ends in January of next year.
Hewlett-Packard would also benefit from buying Acer, though those two companies aren’t as complementary, he said.
Sacconaghi has the highest ranking among computer analysts, according to Institutional Investor magazine.
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