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Gateway computer makes a bold move and purchases rival eMachines for 50 million shares of Gateway common stock and $30 million in cash.

eMachines was a company founded by Lap Shun Hui along with South Korean companies Korea Data Systems, and TriGem. Their strategy was to put a PC in every house starting at $399.

These computers housed lower-end processors, and Windows OS – enough for the average person to get on and get online.

eMachines had previously purchased Free-PC; the company that offered free computers in exchange for pop-up ads while browsing.

Gateway finalized the acquisition in March. Wayne Inouye was placed as CEO, and eMachines stayed a separate company.

Ultimately, Gateway computers was purchased by Acer computers. The eMachines brand was ultimately discontinued on Jan 17, 2013.

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