Catalyses the transfer of the acetyl group from 1-alkyl-2-acetyl-sn-glycero-3-phosphocholine (platelet-activating factor) to the sn-2 position of lyso-glycerophospholipids containing ethanolamine, choline, serine, inositol or phosphate groups at the sn-3 position as well as to sphingosine and long-chain fatty alcohols. The organyl group can be alkyl, acyl or alk-1-enyl (sometimes also collectively referred to as 'radyl').
A novel CoA-independent transacetylase produces the ethanolamine plasmalogen and acyl analogs of platelet-activating factor (PAF) with PAF as the acetate donor in HL-60 cells.