According to the Verge, the Aspire One Cloudbook comes in 11-inch and 14-inch varieties, both 1366 x 768 display and uses an Intel Celeron processor with 2GB of RAM.
The 11-inch model comes with 16GB or 32GB of storage and the 14-inch model can be loaded with 32GB or 64GB. Both versions are 17.9mm thick.
Acer includes a 1-year subscription to Microsoft's Office 365 Personal and 100GB to 1TB of OneDrive storage depending on the model.
Acer Cloudbook 11-inch model will be available this month and will sell for $169 and the 14-inch version is coming in September for $199.