Verbatim has purchased substantially all of the assets, including the external hard drive and digital imaging business of SmartDisk.
The acquisition includes physical assets, patents, trademarks, technology, engineering and marketing expertise of the $44 million per year company.
Verbatim will offer an expanded range of optical, magnetic and flash products and is hiring key engineering, operations, marketing and sales personnel to smooth the transition and assist with future business growth.
“The acquisition of SmartDisk’s external and portable hard drive assets is complementary to Verbatim’s existing business,” said Shigenori Otsuka, president of Verbatim's parent company Mitsubishi Kagaku Media (MKM).
“Today’s consumers and business professionals need the full range of 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.”
IDC predicts over six million external hard drives will be shipped in 2008, up 58 per cent from the 3.8 million units shipped in 2006.