History
Acer was founded by Stan Shih (施振榮), his wife Carolyn Yeh, and a group of five others as Multitech in 1976, headquartered in Hsinchu City, Taiwan.
It began with eleven employees and US$25,000 in capital. Initially, it was primarily a distributor of electronic parts and a consultant in the use of microprocessor technologies. It produced the Micro-Professor MPF-I training kit, then two Apple II clones; the Microprofessor II and III before joining the emerging IBM PC compatible market, and becoming a significant PC manufacturer. The company was renamed Acer in 1987.
In 1989, Shih hired Leonard Liu away from a 20-year career with IBM, making him president of the Acer group and chairman and chief executive officer of Acer America Corp. Liu's managerial style reflected his experience at "Big Blue": in contrast with Shih's traditionally progressive corporate culture, Liu tried to centralize control of Acer. At the same time, the computer industry quickly matured, shifting from a high profit margin business to a low margin commodity practically overnight. Price wars pushed component prices down so rapidly, and a strong New Taiwan dollar made the country's goods so expensive, that it became difficult to make a profit on the finished product.
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