Acer pays $8.35 a share for the company, or about $94 million overall. The boards of both companies approve the sale, and Altos will operate as an independent subsidiary of Acer. Altos’s 1989 sales were $140 million.
Altos is featured in the Inc. 500 companies list, along with Apple Computers, as the magazine’s fastest-growing small businesses of 1982. Inc.:
In 1979 Altos expanded from one-user to multi-user systems, and it has gone on to take as prodigious leaps in its sector as Apple has (even more so in the scorching personal computer market that Jackson eschewed) in the other. The Altos figures shout for themselves: from $8 million in sales in fiscal 1980 to $21 million in fiscal ’81 and to an announced $51 million for fiscal ’82, ended on June 30 (a figure not included in INC.’s listing criteria). That is a gain of 143% in a dismal year that slowed down many another high-tech high-flier.
Altos goes public, earning $58.8 million from the sale of common shares.