Acer has became a world leader in computer manufacturing and is a Taiwanese multinational electronics manufacturer and is ranked top 5 among the world's top PC vendors. Acer sports an array of electronics innovation in its portfolio to include a line up of desktops and laptops, as well as personal digital assistants (PDAs), servers and storage, displays, peripherals, and e-business services for business, government, education, and consumers alike. The company was founded with 11 employees in 1976 and got renamed Acer in 1987. Acer is a fast growing PC manufacturer and global internet-enabler, providing innovative products and services to consumers and businesses alike. Acer took over Gateway on August 27, 2007 for US$710 million and in 2008 announced that it had acquired a controlling interest of 75% of Packard Bell.