Feeds

Shuttle cocky after SCM buy

Brit entrepreneur collects $33 million in SCM paper

  • alert
  • submit to reddit

Seven Steps to Software Security

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
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Want to beat Verizon's slow Netflix? Get a VPN
Exec finds stream speed climbs when smuggled out
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Mobile application security vulnerability report
The alarming realities regarding the sheer number of applications vulnerable to attack, and the most common and easily addressable vulnerability errors.
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.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.