My Android device has been splashed/soaked by (sea)water

My Acer Liquid got wet with seawater. I didn't notice that right the moment, but after an hour it made a couple of vibrations and the screen doesn't turn on. Connected to power and nothing happens, no LED lights and it does just nothing. Trying to turn it on doesn't give any result. Is it gone forever? Can I try anything? Can I make it repair?