SmartDisk Acquires Zio CorporationSept. 1, 2005--SmartDisk Corporation, a leading
provider of portable, network and multimedia storage products and technologies,
today announced that it has acquired the business and certain assets of Zio
Corporation, a privately held market leader in digital media readers, video
editing and mobile telephone products. Terms of the acquisition were not
disclosed.
Headquartered in San Jose, California, Zio's
products include the Dazzle, CameraMate and FoneMate brands and are sold through
leading retailers in the U.S. and Europe. Plans call for Zio's U.S. offices and
operations to be consolidated into the SmartDisk Fort Myers, Florida
headquarters location. Key management personnel will remain at Zio to aid in the
integration of the business and sales activities.
"Zio's products broaden the SmartDisk line and add
premier brands to our market offerings," said Michael S. Battaglia, President
and Chief Executive Officer of SmartDisk Corporation. "Zio also adds valuable
new partners, both retailers on one hand and suppliers on the other. The
addition of Zio will increase SmartDisk revenues, enhance our profitability, and
expand our share of the rapidly growing digital lifestyle market."
"Zio and SmartDisk are a natural fit, serving the same
digital consumer market and reaching consumers through similar channels of
distribution," noted Andrew Warner, Chief Executive Officer of Zio. "Zio's
market leadership position with digital media readers and the potential of our
video and mobile phone solutions, together with SmartDisk's size and scale,
creates a winning combination."
About SmartDisk Corporation
SmartDisk is a leading provider of portable, network
and multimedia storage products and technologies that enable people to enjoy,
share and preserve digital content and information. Headquartered in the U.S.,
with operations in Europe and Asia, SmartDisk sells and supports its products
worldwide. For more information, go to http://www.smartdisk.com.
Posted: Thu - September 1, 2005 at 12:01 PM |