Fabrik Acquires SimpleTech’s Consumer Business
By Staff -- TWICE, 2/12/2007
San Mateo, Calif. — Online digital media storage company Fabrik has acquired SimpleTech’s consumer product business for $43 million.
The acquisition gives Fabrik access to SimpleTech’s hard-disk-drive and network-storage solutions in addition to the company’s flash-memory cards, USB flash drives and memory upgrades.
Fabrik intends to continue to market these products under the SimpleTech brand name. It will integrate these products with its online services to create “a more complete suite of highly integrated online services, intelligent network appliances and simple-to-use solutions” for “personal media enthusiasts,” said Mike Cordano, co-founder and CEO, Fabrik, in a statement announcing the deal.
According to Cordano, Fabrik is “committed to maintaining and growing the entire line of SimpleTech consumer products.”
Fabrik operates www.myfabrik.com for organizing and sharing digital content.
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