Swissbit said that the acquisition will help to boost its technology competence and further strengthen its position as an independent European manufacturer of memory and security products.
Future joint development projects will focus on innovative solutions in the attractive growth market for security and embedded IoT and both companies said that they would be working together to meet the rapidly growing demands from customers for data and device security in the Internet of Things.
Hyperstone will benefit from Swissbit's system and market experience in these markets for the development of its controllers. At the same time both companies will continue to support and expand their respective customer and partner networks for storage solutions as independent organisations and brands.
"The acquisition forms an integral part of our growth strategy,” explained Silvio Muschter, CEO of Swissbit. “Digitalization and increased connectivity of devices in the Internet of Things are driving the demand for secure, high-quality storage products from our memory division and security solutions from our Embedded IoT division. The most valuable asset is data. At Swissbit we see it as our key responsibility to store and protect this data reliably. With the acquisition of Hyperstone, we are not only strengthening and deepening our value chain, but also our technology chain. This will be of great benefit to customers who are looking for a trustworthy provider of highly reliable security products "Made in Germany" for demanding applications."
Hyperstone will continue to provide controllers, firmware and reference designs to module suppliers and disk-on-board integrators.
"With Swissbit as an investor we are gaining a partner with a deep understanding of our markets and technologies. Based on this knowledge Hyperstone will be supported to invest, operate and grow independently in our market. All our customers will benefit from new products and a strong roadmap", said Dr. Jan Peter Berns, Managing Director at Hyperstone.
The transaction remains subject to approval by the relevant authorities.
