We are pleased to announce that SMK Electronics Corporation U.S.A. (called SMK-A for short, with Paul Evans as President), our 100% owned American subsidiary, has acquired from Interlink Electronics (U.S.A.) its two business segments of Branded Products and OEM Remotes (the signing of the agreement occurred on Aug. 15, 2007).
The Branded Products business segment, one of the two segments acquired at this time, has handled the retail business of remote controls through major volume retailers. OEM Remotes, meanwhile, has supplied remote controls primarily for projector and PC applications on an OEM basis.
SMK-A has established SMK-LINK (with SMK-A's President Paul Evans also at the helm of this company) to carry over the Branded Products business in the USA market. The OEM Remotes segment will be taken care of by the entire organization of SMK group companies.
The acquisition of these remote control businesses is expected to provide us with a good opportunity to expand our business in the field of Branded Products around the USA market and remote controls for the projector and PC application markets. Annual sales of about 2 billion yen are expected from this business in the immediate future.