Browse categories
Corporate Financials Gaming Product

Acer to Invest in Starbreeze through Two-year Convertible Bond

Monday, June 27, 2016 — Acer Inc. (TWSE: 2353, LSE: ACID) announces its intent to acquire Starbreeze AB’s (First North: STAR) convertible bonds through a private placement transaction. Starbreeze and Acer have reached a term sheet whereby Starbreeze will issue US$9 million (SEK 74.3 million) in a two-year bond convertible to B-shares to Acer Inc. and/or its affiliates under the Board’s mandate.

As part of its long-term strategic investments, Acer expects the investment in Starbreeze to further solidify the collaboration between the two companies. It will also enhance Acer’s position in the virtual reality (VR) ecosystem, which Acer believes has a huge potential beyond PC gaming, and that VR is set to unlock new possibilities for many other industries such as entertainment, retail, transportation, and education.

The term sheet announced today forms the basis for ongoing discussions regarding a definitive agreement, subject to both parties’ Board approval.

Separately, Acer announced today the signing of the definitive agreement between Acer and Starbreeze to form a joint venture for the design, manufacturing, promotion, marketing and sales of the StarVR Virtual Reality (VR) Head-Mounted Display (HMD), confirming the two companies’ onward collaboration.
About Acer

Founded in 1976, today Acer is one of the world’s top ICT companies and has a presence in over 160 countries. As Acer looks into the future, it is focused on enabling a world where hardware, software and services will fuse with one another to open up new possibilities for consumers and businesses alike. From service-oriented technologies to the Internet of Things to gaming and virtual reality, Acer’s 7,000+ employees are dedicated to the research, design, marketing, sale, and support of products and solutions that break barriers between people and technology. Please visit www.acer.com for more information.

Newsroom published with Prezly: PR Software