Cloudbook Maker Everex Snapped up by Newmarket
Low-cost PC maker Everex this week said it had agreed to be acquired by systems integrator Newmarket Technology for an undisclosed sum.
Newmarket said it will buy 75 percent of Everex's shares from parent company First International Computer, a Taiwan-based PC vendor.
Everex is well-known for the Linux-based Cloudbook, an inexpensive ultraportable notebook computer like the Asus Eee PC, which it introduced earlier this year. In April, Everex announced Cloudbook Max, an ultraportable laptop that includes WiMax mobile broadband capabilities.
The company also sells laptops and desktops in North America and Asia-Pacific through Wal-Mart and other distribution channels.
Newmarket, which provides systems integration and technology infrastructure services, said Cloudbook's ability to offer high-speed WiMax capabilities will be at the center of the company's effort to offer new mobile technologies to customers, according to Philip Verges, CEO and founder of Newmarket, in a letter to shareholders on Tuesday.
Newmarket is interested in bringing ultramobile products, especially the WiMax-enabled Cloudbook, into emerging markets, said Paul Kim, director of marketing at Everex.
Everex will bring hardware expertise to Newmarket, and combining hardware like the Cloudbook with its services will give Newmarket an instant presence in the mobile space and put it in a position to bring out more competitive products, Kim said. It will also expose Everex products to new markets.
Newmarket may not be a household name, but the company has a significant presence in emerging markets such as Latin America and China, Kim said.
The possibility of layoffs is small, considering Newmarket is not primarily known as a hardware company, Kim said.
The deal is likely to close on Sept. 1.