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Tuesday, March 21, 2006
ABIT Purchase Finalized

ABIT Computer Corporation and Universal Scientific Industrial Co.(USI) announced on Tuesday that they have completed the transfer of the ABIT brand to their new joint venture company registered as Universal ABIT Co.

USI a Taiwan-based design, manufacturing and service (DMS) firm for enterprises paid NT$350 million in cash, 20 million units of special shares, and 5 million units of warrants to purchase the above mentioned assets of ABIT, including patents, trademarks.

With the new partnership, ABIT receives a strong financial backing and also eliminates its financial issues.

USI President C. Y. Wei stated that ABIT would receive, through this partnership USI's full resource backing and support. In addition, USI will assist ABIT with wolrdwide manufacturing, will also help accelerate ABIT's product diversification aiming at improving ABIT's competitiveness in the marketplace.

ABIT will furthermore transform into a Taiwan-based, R&D and marketing focused global branding company, expanding through tech-related products and channel marketing.

A company executive denied the rumors on the ABIT brand disappearance and the discontinuation of ABIT's after-sales service. He stated that ABIT will not only improve on its product quality and customer service, but will also have the opportunity to develop into new markets.

USI is a part of the ASE Group, which is huge a provider of independent semiconductor manufacturing services in assembly and testing. USI's line of products include computing (desktops, laptops, servers, and storage-related products), communications (Wi-fi, Bluetooth, Wi-fi ADSL, and UWB) consumer electronics (multimedia centers, digital media converters, internet radio, and home network storage devices) and car electronics.

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