Acer Inc. plans to acquire U.S. computer maker Gateway Inc. for $710 million in a deal that will push the Taiwanese company past China’s Lenovo Group as the world’s third largest vendor of personal computers.

Acer said Monday it is offering to buy Gateway for $1.90 per share in a deal expected to close by December, pending regulatory approvals in Taiwan and the U.S.

The offer price amounts to a premium of 57 percent to Gateway’s Friday closing price of $1.21. Gateway traded at $81.50 in 1999.

The acquisition has been unanimously approved by the boards of directors of both Gateway and Acer and is subject to standard closing conditions, it said.

The deal will create a multi-branded computer company with over $15 billion in revenues and shipments in excess of 20 million units per year, Acer said in the statement.

‘’This strategic transaction is an important milestone in Acer’s long history,'’ said J.T. Wang, Acer’s chairman, in the statement. ‘’This will be an excellent addition to Acer’s already strong positions in Europe and Asia.'’

Acer President Gianfranco Lanci said the acquisition will allow Acer to implement an ‘’effective multi-brand strategy and cover all the major market segments.'’

The takeover will result in reductions in per unit procurement and component costs, and also create an opportunity for the cross-selling of product portfolios, he added.

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