TOKYO -- Verbatim Corporation and its parent company Mitsubishi Kagaku Media (MKM), announced today the purchase of substantially all of the assets of SmartDisk® Corporations 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 companys 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 SmartDisks hard drive and imaging assets. NPD reported that SmartDisk had a 16 percent market share in the US retail portable drive market in 2006.
By combining its worldwide brand strength and its new assets, Verbatim will offer an expanded line of optical, magnetic and flash products that meet the diverse storage needs of consumers and businesses around the globe.
The acquisition of SmartDisks external and portable hard drive business assets is complementary to Verbatims existing business, said Shigenori Otsuka, president of MKM. Plans are already underway to leverage these assets and Verbatims heritage to quickly extend our global leadership in the removable storage and related accessories markets. Todays consumers and business professionals need the full range of removable and portable storage options hard disk, optical and flash. 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 Corporation Inc.