Fabrik Acquires SimpleTech’s Consumer Business

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Tim Higgins

Fabrik’s software and online services includes myfabrik (www.myfabrik.com), which enables users to store, organize and share photos, videos, music and documents either publicly or privately; and myfabrik lite (www.myfabrik.com/lite) that serves as a free hosting and delivery conduit for large files and personal media.

Fabrik’s SimpleTech consumer business operations will remain in Santa Ana, Calif. The product lines being acquired will continue to be marketed under the SimpleTech brand name.

The two leading investors in Fabrik are Comventures and Intel Capital. Wells Fargo Foothill, part of Wells Fargo & Company (NYSE:WFC) , provided the debt financing for the acquisition. VisionPoint Capital, LLC (www.vpcap.com), member NASD and SIPC, advised Fabrik on the acquisition and the related financings.

SimpleTech’s OEM/Industrial flash business is now called "STEC" and will be traded on NASDAQ: STEC. More infomation is available at www.stecinc.com.

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