BUSINESS WIRE, October 12, 2004
M-Systems buys startup Seaside Software
| Flash memory pioneer M-Systems (Nasdaq:FLSH) is acquiring a fellow Israeli company, Seaside Software. The sums involved were not disclosed.
|The software Seaside developed will improve the flash components technology M-Systems provides, rendering the flash drive devices more flexible. The developments will comply with the recently announced standardized platform with SanDisk Corporation, M-Systems says.
FREMONT, Calif.--(BUSINESS WIRE)--Oct. 12, 2004-- M-Systems (Nasdaq: FLSH - News), the leading developer of USB flash drives and creators of the Smart DiskOnKey® platform, has broadened its application development expertise with the acquisition of Seaside Software.
Seaside Software's technology was integral to the creation of the KeyComputing Division's Xkey device and will continue to provide users and partners with applications for this family of products, the Israeli company added.
Buying seaside gives M-Systems the opportunity to pitch its solutions to bigger corporate markets, widening the market for its DiskOnKey technology, explained Dov Moran, the company's CEO and president.
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.
Seaside Software's HiPerExchange technology provided the foundation for bringing secure portability to KeyComputing's revolutionary Xkey.
"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."
Applications developed for DiskOnKey technology-based devices include MyKey, KeySafe, boot, auto-run and read-only capabilities and the enterprise-specific Xkey.