Gateway to Buy eMachines for $234M

Poway-based Gateway ( announced that it is looking to buy Irvine-based eMachines ( in an attempt to stay on top of the PC market. Gateway will buy eMachines for a combination of stock and cash, worth approximately $230M. eMachines' CEO will become head of the combined company, and Gateway's Waitt will remain chair. The company is looking to capitalize on eMachines' strength in low-en machines, and stated that it would be adopting eMachines' distribution and operating model.