Fabrik Acquires SimpleTech Biz

SAN MATEO, Calif. -- Fabrik, Inc., a privatelyowned company, today announced that it has acquired the consumer productbusiness of SimpleTech, Inc., based in Santa Ana, Calif., the No. 3 U.S.provider of hard disk drive-based external, portable and network storagesolutions for consumers and small business users. The purchase alsoincludes the company's flash memory cards, USB flash drives and memoryupgrades. Fabrik has acquired the consumer business unit in a cashtransaction valued at approximately $43 million, subject to certainpost-closing adjustments, which includes the brand name "SimpleTech." Asthe explosive growth of digital content continues unabated, the purchasebrings together industry leaders to ignite a vision of creating a completepersonal media network of software and solutions that lets people easilystore, access, compose, deliver and share their digital content. Fabrik isnow positioned to be the innovative powerhouse in networked personal mediasolutions.

"We're excited about the opportunities that lie ahead. This acquisitiongives us immediate market access with a well-established brand, strongdistribution channels, a talented group of people and a platform ofoperations that allows us to quickly scale to address market needs," saidMike Cordano, Fabrik CEO and co-founder. "From a competitive perspective,we are without comparison. As a private software and web services company,our cultural DNA and inherent flexibility, allows us to deliver innovative,yet simple and consumer-friendly products and services to the market at amuch more rapid rate than traditional players."

Fabrik Inc.