CAMARILLO, Calif., Feb. 15, 2011 /PRNewswire/ -- SMK-Link announced today that it has acquired the assets of Movea's Gyration business unit. The move allows SMK-Link to expand their product line to include motion-enabled products under the Gyration brand and Movea to accelerate its mission to make motion sensing ubiquitous through development and promotion of its MotionIC™ platform. Under the terms of the agreement, SMK-Link will license Movea's SmartMotion™, MotionIC and MotionTools technologies for use in the Gyration product line and thus becomes a customer of Movea.
"We are quite excited about the prospects of the acquisition," said Paul Evans President of SMK-Link. "The acquisition of the Gyration business and the licensing agreement with Movea allows SMK-Link, to expand our presence in the Branded Products Market, in both the US and Europe in particular, add the Gyration brand power and innovative Movea Technology to SMK-Link's expanding portfolio of products and technologies, taking advantage of significant synergies between the SMK-Link and Gyration Businesses, and expand the business cooperation between SMK and Movea on this and other new technologies."
"This is really a win-win situation for all parties; our Customers, Gyration, SMK-Link, and Movea," said Sam Guilaume, CEO of Movea. "Gyration has been extremely important to Movea by providing market validation and awareness for our motion sensing technologies but it's time to take our MotionIC strategy to the next level and this deal allows us to focus on our core mission. At the same time, Gyration benefits from increased investment into its product roadmap and SMK-Link benefits from an expanded portfolio of complimentary, premium products."
Movea is committed to the success of the Gyration product line and the company will continue to support Gyration products through its licensing agreements with SMK-Link. Working with its new partner SMK-Link, Movea will ensure a seamless transition for Gyration customers.
"Movea's existing partnership with SMK's OEM remote business, announced in September 2010, helped to highlight the potential synergies of working more closely together," said Bryan Hoadley, EVP of worldwide sales and General Manager of Movea Inc. "We believe all parties, especially Gyration customers, will benefit from this new business relationship."
The acquisition will include the Gyration customer portfolio, brands, trademarks, product designs, and inventory. Movea will retain all intellectual property on patents, licenses and Motion technology and Motion Tools software.
About SMK-Link and SMK Corporation
SMK-Link, headquartered in Camarillo, California, designs and manufactures branded remote controls, advanced Bluetooth peripherals, and other consumer electronic accessory products. SMK-Link is a subsidiary of SMK Corporation. For additional information, visit www.smklink.com.
SMK's global leadership in the design, development and manufacture of remote control solutions uniquely positions the company to help its customers develop innovative digital media applications and advanced digital television services.
SMK Corporation is headquartered in Tokyo, Japan and is listed on the Tokyo Stock Exchange. SMK was first established in 1925, manufacturers, develops and markets electronic components used by major OEM's in the field of Communications, Information, Audio-Visual, Car Electronics and Home Electronics. With North America operations and R&D in the proximity of San Diego, and with local manufacturing facilities in Tijuana, Mexico, in addition to SMK's global 12 factories, SMK is strategically positioned to supply electronics solutions to OEM's and market leaders engaged in Personal Computing, Consumer Electronics manufacturers and the Subscription Television industry. SMK maintains the dominant worldwide position in the supply of remote controls, producing greater than 70 million units annually, and has strongly invested in the market of devices supporting rich media, interactive and advanced TV features. For additional information, visit www.smkusa.com.
Movea is a leading provider of motion processing chips, software, firmware, and IP for the Consumer Electronics industry. Movea's unique motion processing capabilities enable customers and partners to quickly add motion intelligence to their products, meaning reduced risk, cost, and Time-to-Market for delivering compelling new motion-based features that creates more end-user value. Movea has a global reach with headquarters in Grenoble, France, a U.S. subsidiary in Silicon Valley, California, as well as technology partners, manufacturing partners and distributors around the world. Further information about Movea can be found at www.movea.com.
SmartMotion, MotionIC and MotionTools are registered trademarks of Movea, SA. All other trademarks are the property of their respective owners.