NEC (NIPNY) has sold its European consumer PC operations to entrepreneur Lap Shun "John" Hui, the company announced Monday.
NEC did not disclose terms of the deal, in which Hui will acquire the company's Packard Bell subsidiary. Packard Bell sells notebook and desktop PCs, as well as consumer electronics like MP3 players and DVD players, in Europe, the Middle East, Africa and South America.
"In light of, among other things, the focus on these separate businesses, NEC decided it would be in the best interests of both PB and NEC to sell Packard Bell to Mr. Hui, who was extensive experience in the consumer personal computer business and is well positioned to facilitate the future growth of Packard Bell's business," read a statement by NEC.
The move comes as Hui, the founder of PC firm
, has been trying to get back into the consumer PC business. In August, he sent a letter to
stating his interest in buying the computer maker's consumer retail operations for $450 million. Gateway's board
rebuffed his offer , saying it was not in its shareholders' interests.
Hui could not be reached for comment.
In 2005, NEC split Packard Bell into separate operations, transferring the corporate PC and server business to NEC Computers SAS.
Shares of NEC were up 3.25%, or 18 cents, at $5.71 in midday trading Monday