Palo Alto, CA – Aug. 31, 2006 – SkipJam Corp., a supplier of home media networking hardware and software for consumers, custom home installers, and original equipment manufacturers, has announced its acquisition by NETGEAR, a creator of innovative networking products that connect people, power businesses, and advance the way we live. NETGEAR plans to spend $9 million on the acquisition of SkipJam. With this acquisition, SkipJam’s technology will form the basis of future NETGEAR multimedia products, including media centers, media players, and audio players. Multimedia networking such as this will likely be a major trend in home entertainment in the next few years, according to analysts.
“The internet is becoming the primary conduit for the delivery of entertainment and voice, as well as data. As more and more entertainment content is digitally distributed over the internet, the market for networked entertainment devices is growing. The availability of high-speed, extended range home network infrastructure solutions streaming multiple HD-quality videos simultaneously across the network is now a reality. SkipJam has the technology to become the platform for us to build out our multimedia product portfolio and continue expanding worldwide in the growing category of digital home entertainment and control.” – Patrick Lo, Chairman and CEO, NETGEAR
“Stored content and centralized content is the demand. There really is this desire for distributed music in the home. Now with networking on home computers and other types of storage devices, the devices are much more interoperable, and I think that really opens up this category for some interesting growth over the next few years.” – Kurt Scherf, Vice President and Principal Analyst, Parks Associates
Woodside Capital Partners served as the exclusive financial advisor to SkipJam Corp. in this transaction.
About SkipJam Corp.
SkipJam Corp. supplies home media networking hardware and software for consumers, custom home installers, and original equipment manufacturers. The company’s solutions access PC media on TV, record analog or digital source to hard drive in home, schedule recording of TV shows for watching them later, and use stereos and TVs as paging devices for home intercom. Its products are used in network attached media applications, such as personal video recording, whole house audio and video distribution, and TV-PC interconnectivity. SkipJam Corp. was founded in 2002 and is headquartered in Port Chester, New York. As of August 2, 2006, SkipJam Corp. operates as a subsidiary of NETGEAR Inc.
At NETGEAR, we turn ideas into innovative networking products that connect people, power businesses, and advance the way we live. Easy to use. Powerful. Smart. And designed just for you.
NETGEAR makes it easy for you to have the smartest home in the neighborhood, with the latest, fastest networking technology products. From the most advanced wireless internet connectivity, to superior streaming, remote home video monitoring, and storage solutions, your home networking system will have the speed, range and performance you need, every time you need it. At NETGEAR, we focus on all things connected, with the goal of making your online experience seamless so you can sit back, relax and do more.
In business, confidence is everything. When it comes to your network, it’s even more important. Whether you’re a small business with big dreams or a mid-size business ready to take the next step, you need to share access and ideas safely, connect remote locations securely and give your people the tools to perform. At NETGEAR, we provide networking, storage and security solutions without the cost and complexity of big IT. Our advanced range of reliable, affordable networking products are easy to install and maintain. We deliver solutions you can count on, so you can spend more time on what matters most – growing your business.
For Service Providers
Keeping your customers happy and loyal is everything. At NETGEAR we are dedicated to your success. That’s why we deliver the tools and solutions you need to keep your residential and business customers connected, productive and satisfied. Partner with NETGEAR for home connectivity, home media, security and automation, and mobile solutions. We pay attention to the details that matter to you to deliver custom, cost-effective and scalable solutions that contribute to your bottom line.
About Woodside Capital Partners
Woodside Capital Partners is a global, independent investment bank that delivers world-class strategic and financial advice to emerging growth companies in the technology and life sciences sectors. With a strong track record in M&A, strategic partnerships and private placements, Woodside Capital Partners has been providing worldwide investment banking services since 2001, with leading domain experience in software, Internet services, electronic communications and materials, and healthcare. Woodside Capital Partners is headquartered in Silicon Valley, with an office in London. Securities offered through Woodside Capital Securities LLC, member FINRA/SIPC. For more information, please visit www.woodsidecap.com.