Everex acquired by NewMarket Technology
Everex is one of those names that seems as though it has been around forever. A survivor of the early PC era when there were dozens of brands that often were less than 100-percent IBM PC compatible, Everex burst onto the scene in 1983 and has been a solid presence ever since.
Last week, NewMarket Technology, the Dallas-based integrator announced that it struck a deal a deal with First International Computer of Taiwan to acquire a 75 percent interest in FIC's Everex subsidiary, based in Fremont, Calif. The deal is expected to close in September.
According to a letter to NewMarket shareholders sent by CEO Philip Verges, Everex will be the cornerstone of NewMarket's recently announced mobility technology solutions initiative. Verges cited Everex's CloudBook, an ultra-mobile, low-cost, lightweight portable computer that is WiMax-enabled in preparation for the next generation in wireless broadband Internet access. WiMax technology, Verges said, offer wireless broadband connectivity ranges in miles that will make it possible to access the Internet from almost anywhere.
Everex's 2007 revenue was roughly $60 million. NewMarket is growing rapidly. The company ranked fifth on the 2006 Deloitte Technology Fast 500, a ranking of the 500 fastest-growing technology companies in North America. No wonder; revenue of less than $1 million in revenue in 2003 spiked to more than $93 million in 2007.
I guess it's just the latest sign that time does indeed march on. Even IBM isn't in the PC business anymore, having sold out to Lenovo in late 2004. It's kinda sad to see Everex get subsumed into some other organization, but it appears the Everex name will hang on, at least for a while. Long a friend of the channel, we'll just have to see what Everex morphs into once NewMarket takes control.
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Like a lot of people, I
Like a lot of people, I owned an Everex PC more than a decade ago (almost two). Kind of sad to hear of the news and not sure what Newsmarket brings to the table. Hope they continue to pump out quality products.