Gateway 2000's acquisition of Australia's Osborne Computer Corporation effective today.NORTH SIOUX CITY Sioux City, city (1990 pop. 80,505), seat of Woodbury co., NW Iowa, at the junction of the Big Sioux and Floyd rivers with the Missouri; inc. 1857. It is a shipping, wholesale trade, and industrial center for an extensive agricultural and livestock area (including , S.D.--(BUSINESS WIRE)--Aug. 3, 1995--Gateway 2000(R), Inc. today announced the closing of the acquisition of the business and assets of Osborne Computer Corporation (company) Osborne Computer Corporation - The unsucessful computer manufacturer founded by Adam Osborne that produced one of the first laptop computers, the Osborne 1. , headquartered in Sydney, Australia. The newly created company will be called Osborne Gateway 2000 Pty. Ltd. In June, Osborne entered a voluntary administration, the Australian equivalent of a business reorganization in the U.S. The final terms of the transaction were approved by an Australian Administrator. "We are extremely satisfied with the outcome of the acquisition and glad it is complete," said Ted Waitt Theodore "Ted" Waitt (born January 18, 1963) is an American billionaire who was a co-founder of Gateway, Inc. Biography Waitt was born and raised in Sioux City, Iowa and attended the University of Iowa. , Gateway chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We look forward to expanding into the Australian market and building a significant presence in the near future." Prior to entering the voluntary reorganization, Osborne was one of the largest PC manufacturers in Australia. Gateway's global purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. , financial depth and strategic business planning strengths will allow Osborne to return to its former leadership position in the market. Osborne Gateway was not required to uphold past warranty obligations, but the company set forth new policies today to honor certain previous customer obligations. Waitt said Gateway wanted to show its commitment to the Australian market by giving Osborne customers a comprehensive warranty program. Osborne Gateway will begin a new three-year limited parts warranty and, in certain geographies one-year on-site service for the repair of Osborne computer systems. The warranty period begins on the day of purchase for new customers. For previous customers, the warranty is retroactive to the day the product was purchased. Enhanced service Enhanced service is service offered over commercial carrier transmission facilities used in interstate communications, that employs computer processing applications that act on the format, content, code, protocol, or similar aspects of the subscriber's transmitted information; options will also be made available. Osborne customers who had prepaid with cash, but not yet received their computers were faced with the possible loss of the majority of their money. Gateway has made provision to ensure that these customers will receive their systems by Christmas. About Gateway 2000 Gateway 2000, a Fortune 500 company founded in 1985, currently sells more PC-compatible systems through the direct market channel in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. than any other PC manufacturer. A recent study by Computer Intelligence InfoCorp shows that PCs from Gateway 2000 led the PC industry in repeat purchase or brand "loyalty" ratings during 1994. Gateway's rating far out-distanced its nearest competitors. The company's 1994 sales were $2.7 billion. Gateway 2000 is listed on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on market as GATE. -0- Note to Editors: Gateway 2000 is a registered trademark of Gateway 2000, Inc. Other trademarks are the property of their respective companies. CONTACT: Gateway 2000 Al Giazzon, 605/232-2590 |
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