Stellar Revenues Propel Acer's Internet Efforts
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Taiwanese PC maker Acer Corp. plans to use $1 billion (S$2.78 billion) of its 24-fold revenue increase of $5.16 million (S$8.62 million) to launch two new Internet business groups.
Acer last week announced that it will split $400 million between a digital services project and a venture capital group, but Acer chairman Stan Shih Friday put the amount significantly higher, according to a Business Times report.
The venture capital project, which Shih referred to as Acer SoftCapital in the Business Times interview, is expected to raise $1 billion, well above Acer's $200 million commitment. The digital services division may receive an investment up to $400 million.
Shih also told the Singapore newspaper that he expects the company's much anticipated move into the Internet to bolster its operations in Singapore. The country may act as a center for one of several fund management teams.