Apex Data and SMART Modular Technologies Announce Completion of Merger.PLEASANTON, Calif.--(BUSINESS WIRE)--Aug. 4, 1995--Apex Data, Inc., Pleasanton, Calif., and SMART Modular Technologies, Inc., Fremont, Calif., announced today that Apex, SMART and SMART Acquisition, Inc., a wholly-owned subsidiary of SMART, have completed the merger of Apex and SMART Acquisition. Under the terms of an Agreement and Plan of Reorganization, SMART Acquisition was merged with Apex, with Apex becoming a wholly-owned subsidiary of SMART. In the merger, each share of Apex Common Stock outstanding prior to the merger will be exchanged for 0.10 of a share of SMART Common Stock. The completion of the merger followed the approval of the transaction by Apex stockholders at a special stockholder's meeting on July 21, 1995. Within the next few weeks, Apex stockholders will receive information concerning procedures for exchanging shares of Apex Common Stock for shares of SMART Common Stock. Shares of Apex Common Stock ceased trading in the 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 over-the-counter market over-the-counter market Trading in stocks and bonds that does not take place on stock exchanges. Such trading occurs most often in the U.S., where requirements for listing stocks on the exchanges are strict. on July 27, 1995. "With the PC Card industry rapidly becoming commodity-oriented, access to extensive manufacturing capabilities with an emphasis on quality and reliability is critical to major growth," said Apex President and Founder John Chess. "The merger provides us with access to SMART's significant manufacturing capabilities and we believe the combined company resources will allow us to provide enhanced distribution channel support and an increased focus on corporate accounts and end-users." "The combination of our companies provides additional resources for the development of new, innovative products and enhances our ability to compete in the growing PC Card marketplace," said SMART's President and Founder, Ajay Shah. SMART, founded in 1988 and headquartered in Fremont, Calif., is best known for its expertise in memory manufacturing along with its line of high quality, easy-to-use mobile computing Using a computing device while in transit. Mobile computing implies wireless transmission, but wireless transmission does not necessarily imply mobile computing. Fixed wireless applications use satellites, radio systems and lasers to transmit between permanent objects such as buildings solutions which the company has marketed primarily to the 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 market. SMART's PC Card products include a voice mail equipped fax/modem, a direct-connect cellular fax/modem, a multifunctional fax/modem/memory card for the Hewlett-Packard 100 and 200 LX, a serial interface card plus a line of FLASH memory cards. Apex products will continue to be marketed under the Apex brand name. Select SMART PC Cards and memory products will be incorporated into the Apex product line over the next 60 days. Founded in 1992, Apex Data, Inc. is known for its line of data communication and memory products designed to meet the needs of the mobile computer user. The company's range of PC Card connectivity and wireless solutions increase productivity for mobile computer users who wish to communicate effectively from "the road." Apex Data's products offer attractive computing computing - computer functions such as data transmission, network interface and other computing functionality. Apex PC Card products include landline and wireless data/fax modems, a combination data/fax modem and Ethernet LAN card See network adapter. , Ethernet and Token Ring adapters A network adapter used in a Token Ring network. See network adapter. and memory product. Apex has obtained certification as "IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) ThinkPad Proven" and a "Toshiba Marketing Partner." CONTACT: McGrath/Power Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most Jonathan Bloom, 408/727-0351 |
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