Monday, February 12, 2007

Fabrik Buys SimpleTech's Consumer Products Business, Brand

San Mateo-based Fabrik, a venture-backed firm funded by Comventures and Intel, said today that it has acquired the consumer products business of SimpleTech. The deal is worth $43M, and includes SimpleTech's hard disk drive, flash memory, USB flash drive, and memory upgrades business. Fabrik said that the deal is designed to broaden its customer base and increase growth opportunities. Fabrik provides an online media storage and online storage service.