NETGEAR® Completes Acquisition of Infrant
NETGEAR® Completes Acquisition of Infrant
SANTA CLARA, Calif., May 17, 2007 -- NETGEAR, Inc. (Nasdaq: NTGR), a worldwide provider of technologically advanced, branded networking products, today announced that it has completed the acquisition of privately-held Infrant Technologies, Inc. of Fremont, California.
On May 2, 2007, NETGEAR executed a definitive agreement to acquire Infrant, a provider of networked attached storage products that enable users to store and protect critical data. This acquisition of Infrant's ReadyNAS
product family and product pipeline, together with NETGEAR's existing SC101 Storage Central products, allows NETGEAR to offer a full lineup of feature-rich, scalable and cost-effective storage solutions for small business, professional and home customers.
With the completion of the acquisition, NETGEAR adds Infrant's seasoned team to focus on hardware, software and technology for networked storage devices under Paul Tien, former President and CEO of Infrant and NETGEAR's new Vice President and General Manager, Networked Storage Products.
About NETGEAR, Inc.
NETGEAR (Nasdaq: NTGR - News) designs technologically advanced, branded networking products that address the specific needs of small and medium business and home users. The Company's product offerings enable users to share Internet access, peripherals, files, digital multimedia content and applications among multiple personal computers and other Internet-enabled devices. NETGEAR is headquartered in Santa Clara, Calif. For more information, visit the company's Web site at www.netgear.com or call (408) 907-8000.©
2007 NETGEAR, INC., NETGEAR, the NETGEAR Logo and ReadyNAS are trademarks or registered trademarks of NETGEAR, Inc. and its affiliates in the United States and/or other countries. Other brand and product names are trademarks or registered trademarks of their respective holders. Information is subject to change without notice. All rights reserved.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for NETGEAR, Inc.:
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Specifically, statements concerning the contribution of Infrant's technology, products and employee team to NETGEAR's future business, and the expected performance characteristics, specifications, market acceptance, market growth, specific uses, user feedback and market position of NETGEAR's products and technology are forward-looking statements within the meaning of the Safe Harbor. These statements are based on management's current expectations and are subject to certain risks and uncertainties, including, without limitation, the following: NETGEAR may not be successful in integrating Infrant's technology, products and employee team, the actual price, performance and ease of use of NETGEAR's products may not met the price, performance and ease of use requirements of customers, product performance may be adversely affected by real world operating conditions, new viruses or Internet threats may develop that challenge the effectiveness of security features in NETGEAR's products, the ability of NETGEAR to market and sell its products and technology, the impact and pricing of competing products and the introduction of alternative technological solutions. Further information on potential risk factors that could affect NETGEAR and its business are detailed in the Company's periodic filings with the Securities and Exchange Commission, including, but not limited to, those risks and uncertainties listed in the section entitled "Part II - Item 1A. Risk Factors", pages 20 through 29, in the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended April 1, 2007, filed with the Securities and Exchange Commission on May 11, 2007. NETGEAR undertakes no obligation to release publicly any revisions to any forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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