Feeds

Shuttle cocky after SCM buy

Brit entrepreneur collects $33 million in SCM paper

  • alert
  • submit to reddit

High performance access to file storage

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

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.