SMK Electronics to Acquire OEM Remotes and Branded Products Business Segments From Interlink Electronics
SAN DIEGO, CA – August 15, 2007 SMK Electronics (SMK) today announced the signing of a definitive agreement to acquire the assets of Interlink Electronics Inc. OEM Remotes and Branded Products business segments to US-based SMK Electronics, for approximately $11.0 million in cash. The transaction is expected to close on August 31, 2007, subject to customary closing conditions.
"It is expected by way of this acquisition and related Intellectual Property assets gained that this will increase our remote control market leadership into the professional Presentation and Projector device market sector", says Paul Evans, President, SMK Electronics Corporation. "Additionally, this transaction will extend our reach into the aftermarket accessory business with retail branded products due to Interlinks established presence".
SMK, a manufacturing "powerhouse" with a global network of R&D, 13 Manufacturing facilities and worldwide sales operations, believes this deal will fortify its core OEM business and enhance its market share along with leveraging some of Interlink’s well recognized IP.
About SMK Electronics
SMK Corporation established in 1925 with its headquarters in Tokyo, Japan is the largest manufacturer of remote control units in the world. SMK is uniquely focused on the design, development and production of IR & RF based remote control solutions and its competencies include an extensive product offering, unparalleled engineering, R&D and design services. SMK also produces a wide variety of electronic components used by major OEM’s in the field of communications, information, audio-visual, car electronics and home electronics.
SMK Electronics Corp., U.S.A., headquartered in Chula Vista, California, provides a wide range of standard solutions in addition to fully custom developed products with local manufacturing facilities in Tijuana, Mexico.
About Interlink Electronics, Inc.
Interlink Electronics, Inc. (OTC: LINK.PK), is a global leader of intuitive human interface products and technologies. Setting tomorrow's standards for electronic signature and e-notarization products, advanced remote controls and consumer electronics interface solutions; Interlink has established itself as one of the world's leading innovators of intuitive interface design.
With more than 80 patents around the world protecting its technologies and products, Interlink Electronics serves a world-class customer-base from its corporate headquarters in Camarillo, California and offices in Japan, Taiwan, Hong Kong and China.
For further information please contact:
George Sawyer
SMK Electronics Corporation
(6l9) 2l6-6477
sawyer@smkusa.com
