*NEWS*VERBATIM ACQUIRES SMARTDISK

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*NEWS*VERBATIM ACQUIRES SMARTDISK

 user 2007-07-10 at 12:15:00 pm Views: 51
  • #18347

    Verbatim Acquires SmartDisk
    Tokyo
    — Verbatim and its parent company, Mitsubishi Kagaku Media , announced
    the purchase of SmartDisk’s external hard drive and digital imaging
    business for an undisclosed price.The acquisition expands Verbatim’s
    global footprint in the data storage market beyond its current lines of
    optical disc media, magnetic tape and flash products.“The acquisition
    of SmartDisk’s external and portable hard drive business assets is
    complementary to Verbatim’s existing business,” said Shigenori Otsuka,
    president of MKM. “Plans are already underway to leverage these assets
    and Verbatim’s heritage to quickly extend our global leadership in the
    removable storage and related accessories markets.”In addition to
    acquiring SmartDisk technology and patents, Verbatim said in a release
    that it will retain “key U.S. engineering, operations, marketing and
    sales personnel to smooth the transition and assist with future
    business growth.” Verbatim did not disclose if any jobs will be
    eliminated.The deal mirrors rival Imation’s recent acquisitions of TDK
    and Memorex, which added another broad-line memory supplier to the
    global accessories market.The removable storage category has seen
    “explosive growth” in recent years, according to IDC. The research firm
    predicts more than 6 million external hard drives will be shipped in
    2008, up 58 percent from the 3.8 million units shipped in 2006.

    SmartDisk
    had a 16 percent market share in the U.S. retail portable drive market
    in 2006, according to data from the NPD Group.“Today’s consumers and
    business professionals need the full range of removable and portable
    storage options — hard disk, optical and flash,” Otsuka said. “Now, we
    can meet all of their storage requirements with a complete family of
    highly reliable, technically advanced solutions that are also
    cost-effective.”Verbatim also markets computer and imaging accessories
    and printing supplies. The brand is distributed in Asia, Australia,
    Europe and North and South America.