Stellar Revenues Propel Acer’s Internet Efforts

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.

News Around the Web