VST Technologies, makers of USB and FireWire peripherals for the Mac, is being bought by SmartDisk, the maker of FlashPath floppy-disk adaptors.
SmartDisk announced yesterday that it has agreed to buy VST for 1.523 million shares of SmartDisk stock, and $16.5 million in cash. The transition is expected to be completed in early March, subject to standard closing conditions.
According to SmartDisk, the acquisition will give the company a "significant presence in the resurgent market for Apple products" as well as adding FireWire and USB technologies to its product portfolio.
One of VST’s latest products is the portable FireWire Slim Drive, announced at Macworld Expo in San Francisco last month.
VST’s chairman and founder Vincent Fedele commented: "VST offers FireWire and USB products, along with effective distribution channels to Apple users worldwide. With the addition of the VST development organization and product line, SmartDisk will have a strong presence in the fast-moving technology centre in the Boston area."