SMART Global Holdings Announces Entry into Embedded Computing Market Through Acquisitions of Artesyn Embedded Computing and Inforce Computing
Extends Product Offering into Embedded Computing for Federal, Defense, Industrial, Edge Computing, Consumer and Communications OEM Markets
Conference Call to Discuss Acquisitions @
The acquisitions are expected to be immediately accretive to EPS.
“These acquisitions represent another milestone in SMART Global’s strategy to drive growth and earnings through synergistic M&A,” commented
Artesyn Embedded Computing
“Artesyn EC strengthens our product offerings and high-reliability technologies in embedded computing requirements,” noted Mr. Shah, “We are also excited to have Artesyn EC’s experienced engineering, sales and marketing teams join SMART Global.”
As part of the SMART Specialty Compute & Storage Solutions (“SCSS”) line of business it will serve a broad range of Defense, Industrial IoT (“IIoT”), Edge Computing, and Communications OEM customers. Artesyn Embedded Computing will become SMART Embedded Computing and leverage our core operational capabilities to gain a foothold at scale in embedded computing markets.
SMART has agreed to acquire Artesyn EC for
“We look forward to leveraging Inforce’s engineering talent to further develop leading edge system-on-module and single board computer products for IoT applications,” added Mr. Shah.
Inforce Computing, based in
“Joining SMART is a strong next step in the progression of Inforce,” said
SMART has agreed to acquire Inforce for a total of
O’Melveny & Myers LLP is acting as legal counsel to
Conference Call Details
SMART will be hosting a conference call to discuss the acquisitions at
|Date:||Tuesday, July 9, 2019|
|Time:||1:30pm Pacific Time (PT) / 4:30pm Eastern Time (ET)|
|Dial-in US toll free:||+1-866-487-6452|
A replay of the conference call will be accessible for one week following the call as follows:
Replay: +1-855-859-2056; Passcode: 8788981; or through the Investors section of the SMART website at www.smartgh.com.
This release contains, and statements made during the above-referenced conference call will contain "forward-looking statements" including among other things, statements regarding future events and the future financial performance of SMART, Artesyn EC and Inforce and statements regarding growth drivers in certain industries and markets. These statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including but not limited to: business and economic conditions and growth trends in the technology industry and in SMART’s, Artesyn EC’s and Inforce’s customers and end markets; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending; the success of our strategic initiatives including additional investments in acquisitions and new products; our success at integrating acquisitions and achieving synergies; deterioration in customer relationships; production or manufacturing difficulties; competitive factors; technological changes; difficulties with or delays in the introduction of new products; slowing or contraction of growth in the computing and storage markets; prices for the end products of our customers; fluctuations in material costs and availability; deterioration in or loss of relations with any of our limited number of key vendors and customers; and other factors and risks detailed in SMART’s filings with the
The SMART family of companies, headquartered in the U.S., are leading designers and manufacturers of systems and sub-system/modules serving industry for over 30 years. Through SMART Modular Technologies, the company has been supplying memory modules and sub-system solutions to a broad customer base of leading OEMs in Enterprise Computing,
With the addition of Penguin Computing, SGH added Tier 1 Enterprise, Government, Military and Education customers by expanding its serviceable markets into areas requiring specialized computing platforms in Artificial Intelligence (AI) and Machine Learning (ML), Advanced Modeling and High Performance Computing (HPC).
Customers rely on SMART as a strategic supplier with application specific products, top tier customer service, product quality, and technical support with engineering, sales and manufacturing locations worldwide.
See www.smartgh.com, www.smartm.com, www.smarth.com, www.smartsscs.com and www.penguincomputing.com for more information.
Strategic Marketing and Business Development
Source: SMART Global Holdings, Inc.