Feeds

Shuttle cocky after SCM buy

Brit entrepreneur collects $33 million in SCM paper

  • alert
  • submit to reddit

The essential guide to IT transformation

SCM Microsystems has snapped up Shuttle Technology Group for a cool $33 million. The seven-year-old Shuttle, founded by British entrepreneur Alan Jones, specialises in ASIC connectivity for e-commerce and digital video broadcasting. Jones said that SCM’s worldwide presence will strengthen Shuttle’s existing customer networks. Jones will stay on board with a significant stockholding in SCM and a seat on the board. He will be responsible for product development. Shuttle operates in the UK and in India, Taiwan and Fremont, developing secure access and interface technologies for a number of OEM manufacturers, including Hewlett-Packard, NEC, Panasonic and SyQuest. Steve Humphreys, SCM’s president and CEO, explained the rationale for acquiring Shuttle. He said that both companies' products, technologies business model and operations are highly complementary. Shuttle’s portfolio generated over $18 million in the past year, and Humphreys said that SCM will focus on its ASIC development and the engineering centre in Madras, both described as world-class. He added: "As we have stated repeatedly, it is important for SCM to migrate our technology to the silicon level to drive down costs and provide OEM customers with greater flexibility. Shuttle’s expertise will be important across our entire product line." SCM’s executive chairman, Robert Schneider, added: "Shuttle provides us with a substantially expanded presence in the UK and allows us to tap into the engineering talent in India and combine our US operations in Silicon Valley." ® Click for more stories Click for story index

Boost IT visibility and business value

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Banking apps: Handy, can grab all your money... and RIDDLED with coding flaws
Yep, that one place you'd hoped you wouldn't find 'em
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Primetime precrime? Minority Report TV series 'being developed'
I have to know. I have to find out what happened to my life
Broadband slow and expensive? Blame Telstra says CloudFlare
Won't peer, will gouge for Internet transit
Netflix swallows yet another bitter pill, inks peering deal with TWC
Net neutrality crusader once again pays up for priority access
prev story

Whitepapers

Best practices for enterprise data
Discussing how technology providers have innovated in order to solve new challenges, creating a new framework for enterprise data.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?