AST ANNOUNCES COMPLETION OF SAMSUNG STRATEGIC INVESTMENT.IRVINE, Calif.--(BUSINESS WIRE)--July 31, 1995--Representing the largest international equity investment by a Korean company in the U.S., AST Research AST Research, Inc. was a personal computer manufacturer, founded in Irvine, California in 1980 by Albert Wong, Safi Qureshey and Thomas Yuen. (The name comes from the initials of their first names. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ASTA) today announced the completion of the previously-announced $377.5 million strategic investment in AST (AST Computer, Irvine, CA) A PC manufacturer founded in 1980 by Albert Wong, Safi Quershey and Tom Yuen (A, S and T). It offered a complete line of PCs that sold through its dealer channel. by Samsung Electronics Samsung Electronics (SEC, Hangul:삼성전자; KSE: 005930, KSE: 005935, LSE: SMSN, LSE: SMSD) is a South Korean multinational corporation and the world's largest and leading electronics and information technology company. Co., Ltd. The agreement with Samsung results in an investment of 40.25 percent in AST, as well as other strategic relationships, including component supply and joint product development. Samsung now holds a total of 17.89 million shares in AST, which includes 5.82 million shares which were acquired in a tender offer from AST stockholders at $22 per share. "The combined resources of AST and Samsung allow us to chart a new course in strengthening our product offerings, technology developments and value to customers," said Safi Qureshey Safi Qureshey (sometimes written Qureshi) is chairman emeritus, cofounder and former CEO of AST Research, Inc., a personal computer manufacturer. He is currently CEO of wireless video technology company Quartics and is involved with several start-up technology companies as an , AST chairman and chief executive officer. "Now that the investment is complete, we can begin to go forward with our strategic alliance which will allow us to benefit from the strengths of a $14 billion company that is a world leader in component technologies. We look forward to working together and bringing the benefits from these efforts to the marketplace." The strategic alliance will cover a broad range of commercial relationships between the parties, including expanded and improved supply of critical components manufactured by Samsung and used by AST in the manufacture of personal computers, joint product development, OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and arrangements and cross-licensing of patents. Some advantages of the relationship already discussed with Samsung to date include: -0- -- Joint product design capabilities combining PC and telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. technologies -- Increased DRAM and monitor supplies -- Access to other Samsung component technologies that will be phased into future products, including an ultra-high-quality active-matrix VGA (Video Graphics Array) The display standard for the PC. All PC display adapters support VGA, and Windows machines boot up in "VGA mode" before switching to higher resolutions. display that will be used in the Ascentia notebook family -- Joint purchasing of components -0-
On a strategic point, AST and Samsung will begin working together
on future product developments in order to better leverage the
strengths of the two companies and determine the best future courses
of action.
"We are excited and believe this is a tremendous turning point
for AST that is only limited by our imaginations," said Y.S. Kim,
Samsung corporate vice president. "The strengths of Samsung blend
well with those of AST. Collectively, we have the potential to
become one of the world's best in delivering state-of-the-art
computer products to our global customers."
Corporate Background
AST Research Inc., a member of the Fortune 500 list of America's
largest industrial and service companies, is one of the world's
leading personal computer manufacturers. The $2.367 billion company
develops PC products ranging from portable systems to superservers
sold in more than 100 countries worldwide. Corporate headquarters is
located at 16215 Alton Parkway, P.O. Box 57005, Irvine, Calif.
92619-7005. Telephone (714) 727-4141 or (800) 876-4278. Fax: (714)
727-9355.
CONTACT: AST Research, Inc. Emory Epperson, 714/727-7958 (media contact) Misty mist·y adj. mist·i·er, mist·i·est 1. Consisting of or marked by mist: a misty rain; a misty night. 2. Ohmart, 714/727-7728 (analyst contact) |
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