Maxus completes acquisition of UDT Korea.

Maxus Technology Corp., Morgan Hill, Calif., has completed its previously announced acquisition of asset recovery service prodicer and electronics recycler UDT Korea Corp.

UDT Korea, which represents a strategic expansion of Maxus Technology Corp.'s global asset management business, will be operated as a stand-alone business as part of the Maxus Technology eWaste Solutions Group. Terms of the cash transaction were not disclosed. The transaction is to be satisfied through an issuance of Maxus Technology common stock.

Privately owned UDT was founded in 1996 and has grown to become one of Asia's leading electronic scrap recyclers, supplying customers worldwide with high-quality new and refurbished components, computer parts and accessories. Its annual revenue exceeded $2 million for its fiscal year ending December 2003. UDT Korea is an industry leader in technology destruction services, providing secure and complete destruction of highly sensitive proprietary technology, according to a release from Maxus.

"We are excited about the synergies between Maxus Technology and UDT Korea," says David Smith, CEO of Maxus Technology Corp.

"This acquisition is consistent with our growth strategy to expand and build on our eWaste and asset recovery solutions in the international marketplace. The UDT Korea management team has extensive knowledge in e-waste and asset recovery throughout the Pacific Rim. This will be invaluable as we accelerate our efforts to further penetrate global markets with Maxus Technology processes and methodologies," adds Smith.