P ortable storage maker SmartDisk Corp. has acquired the business and certain assets of Zio Corporation, a privately held maker of digital media readers, video editing and mobile phone products, the company announced Thursday. Terms of the acquisition were not disclosed.
Zio?s products include the Dazzle, CameraMate and FoneMate brands and are sold through leading retailers in the U.S. and Europe.? Plans call for Zio?s U.S. offices and operations to be consolidated into the SmartDisk Fort Myers, Florida headquarters location.? Key management personnel will remain at Zio to aid in the integration of the business and sales activities, the company said.
??Zio?s products broaden the SmartDisk line and add premier brands to our market offerings,? said Michael Battaglia, President and CEO of SmartDisk. ?Zio also adds valuable new partners, both retailers on one hand and suppliers on the other.? The addition of Zio will increase SmartDisk revenues, enhance our profitability, and expand our share of the rapidly growing digital lifestyle market.?
??Zio and SmartDisk are a natural fit, serving the same digital consumer market and reaching consumers through similar channels of distribution,? noted Andrew Warner, CEO of Zio.? ?Zio?s market leadership position with digital media readers and the potential of our video and mobile phone solutions, together with SmartDisk?s size and scale, creates a winning combination.?