A
few weeks ago, we reported that Verbatim had agreed to acquire
SmartDisk's external hard disk drive and digital imaging business. According to a press release sent out this morning, the acquisition
was completed on June 30th and includes SmartDisk's physical assets, patents, trademarks, technology, engineering and marketing
expertise.
Verbatim Corporation and its parent company Mitsubishi Kagaku Media (MKM), announced today the purchase of
substantially all of the assets of SmartDisk Corporation’s external hard drive (HD) and digital imaging business. The acquisition,
which includes physical assets, patents, trademarks, technology, engineering and marketing expertise, was effective on June 30, 2007. The
purchase price has not been disclosed.
The Verbatim brand is recognized worldwide for delivering data storage solutions with the
latest technologies, the highest quality, and features that add value for the consumer. The company’s role as an innovator is especially
apparent in the magnetic and optical storage markets where it has been known as a pioneer for more than 30 years. Verbatim is also
enjoying an increasing presence in the global portable storage market. As part of its corporate strategy to capitalize on this trend and
complement its existing portable storage product line, the company purchased SmartDisk’s hard drive and imaging assets. NPD reported
that SmartDisk had a 16 percent market share in the US retail portable drive market in 2006.
If you'd like to read more,
Verbatim's entire press release can be found here.
