LOS ANGELES (September 20, 2005) – Platinum Equity announced today that it has completed the acquisition of pioneering network and Internet connectivity provider USRobotics. The transaction was announced on Aug. 15.
With an installed base of more than 100 million products in more than 80 countries worldwide, USRobotics is one of the world’s leading producers and distributors of broadband and analog modems, and wired and wireless networking solutions.
Founded in 1976 by three University of Chicago students working out of a Skokie, Illinois garage, the company was named after the “greatest company in the known galaxy” – U.S. Robots and Mechanical Men – from the science fiction novel I, Robot by Isaac Asimov.
From those entrepreneurial beginnings, USRobotics quickly emerged as the world’s No. 1 selling modem brand, as millions of PC users around the globe first connected to the Internet with the company’s analog modem. Today, it is the most recognized product line in its category within the Internet access industry.
About Platinum Equity
Platinum Equity (www.platinumequity.com) is a global M&A&O® firm specialized in the merger, acquisition and operation of companies that provide services and solutions to customers in a broad range of business markets, including information technology, software, telecommunications, logistics, manufacturing, health care products and entertainment distribution. Since its founding in 1995 by entrepreneur Tom Gores, Platinum Equity has acquired more than 50 businesses and built a multibillion-dollar portfolio of operating companies. In 2004, Platinum was named the 32nd largest private company in the United Stated by Forbes magazine.
For three decades, USRobotics has been a leader in network access, delivering the highest quality and most innovative products available. Without losing its focus on the analog modems that made the company a household name, USRobotics is rapidly expanding its category leadership by offering high-speed, broadband modems and wired and wireless networking solution; to the growing home, home office, and small-business markets. USRobotics is privately held and headquartered in the Chicago area. For further information, please visit the Web site at www.usr.com.
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