The deal is expected to have little impact on M-Systems' financial results.
M-Systems Flash Disk Pioneers (Nasdaq:FLSH) today announced the acquisition of Seaside Software. No value was disclosed, but Seaside is valued at $1-2 million. The deal is therefore expected to have little impact on M-Systems' financial results.
Seaside Software's core focus has been the development of portable cached applications that eliminate the impact of wide area networks (WAN) on network connectivity and application execution.
The deal provides M-Systems with Seaside Software's enterprise application technology and intellectual property. M-Systems stated that Seaside Software's technology was integral to the creation of its KeyComputing Division's Xkey device.
"USB flash drives continue to grow in popularity and we believe driving demand will be based on the ability to execute applications directly from the drive," said Arnon Dinur, vice president and general manager of M-Systems' DiskOnKey division. "To meet this demand we are developing applications today that will influence the evolution of the market."
Published by Globes [online] - www.globes.co.il - on Tuesday, October 12, 2004