Prophet Equity strikes deals

Southlake-based private-equity firm Prophet Equity LP has been involved in two technology deals in recent months.

Flash-memory manufacturer Silicon Storage Technology Inc. announced Nov. 13 it has agreed to a definitive merger agreement with Technology Resource Holdings Inc., a Prophet Equity LP-controlled entity and SST management, in a deal valued at about $210 million.

Prophet Equity will acquire all of the outstanding common stock of the company for $2.10 per share, except for shares held by Bing Yeh, SST’s chairman and CEO, and Yaw Wen Hu, the company’s executive vice president and COO. They have agreed to exchange all of their shares of SST common stock for shares of capital stock of the resulting privately held company. This price per share represents approximately a 13 percent premium to the closing price per share of SST’s stock Nov. 12, The transaction is expected to close in the second quarter, subject to regulatory and shareholder approval.

“We believe that this transaction provides the greatest likelihood of achieving the highest value for the company’s shareholders, and that this is also in the best interest of our customers, partners and employees,” said Yeh, in a press release. “We believe the added flexibility of being a private company will help us to focus on delivering innovative memory and non-memory solutions to our customers and supporting their needs with the highest levels of service that they have come to expect.”

Jackson Walker LLP is serving as legal adviser to Prophet Equity in connection with the transaction.

On Oct. 2, Prophet Equity announced it entered an agreement to purchase the Altec Lansing electronics group from Plantronics Inc. of Santa Clara, Calif., for about $18 million. The agreement calls for Prophet Equity to purchase Altec Lansing for about $18 million in cash, net of liabilities assumed, and subject to certain adjustments. The deal was expected to close at the end of October, but the closing date was extended to Dec. 1, the firms announced Oct. 23.

Altec Lansing produces a line of professional, home, automotive, computer and multimedia products and traces its history back to 1936. It is particularly well known for its line of loudspeakers for cinemas and portable speakers.

“Prophet Equity is delighted to be partnering with Altec Lansing at this time in its history, as we believe it is an influential and dynamic company with a bright future in many portable digital audio platforms,” said Ross Gatlin, CEO at Prophet Equity, in a press release.

George Stelling, COO at Prophet Equity, said Altec Lansing has sold technical and management assets.

“Our team sees Altec Lansing’s compelling audio technologies, its global customer and supply base, and its top-notch management team as strengths that are unrivaled in the audio market today,” Stelling said. “We look forward to helping grow the company, to partnering with Plantronics in the future on new platforms, and to serving Altec’s enthusiastic and loyal customers for many years to come.”

Geos signs deal with shoot it!

Mobile application and services developer Geos Communications Inc. of Southlake announced Nov. 17 it has signed a mutual distribution agreement with shoot it! LLC. Shoot it! is a postcard-messaging application available for the iPhone and the BlackBerry Curve 8900, Bold, Tour and Storm that allows users to take a photo, type a personal message and send a paper postcard to any mailbox in North America, Western Europe and Asia.

“Geos, an emerging global communications company, provides leading-edge products that produce true value for our customers,” said Andy Berman, CEO of Geos Communications, in a press release. “And after learning about shoot it! and testing their product, it was clear that their easy-to-use, smart phone application was in line with our core philosophy. It was a natural fit. We are building a better way to connect people around the world.”

The terms of the agreement allow Geos to rebrand shoot it! under the name MyGlobalPix. Geos will offer MyGlobalPix alongside their existing mobile application MyGlobalTalk.

Geos Communications was formerly known as i2Telecom International Inc.

www.geoscommunication.com

TTI receives marketing awards

TTI Inc. received seven channel marketing awards at the annual National Electronic Distribution Association Executive Conference in Chicago.

TTI garnered two platinum and five gold awards in six of the eight award categories.  At the platinum level recognition was received for the following: Co-op Advertising – full page, Tyco Shrink Wrap; Integrated Marketing – Stan Campaign. Gold awards were received for Web Promotion, Stan Website; Image Advertising – Full Page, Stan on-Time; Industry Advocacy – Supplier Excellence Award Ad; Image Advertising – full page, Transportation; Image Advertising – Complete Campaign.

“TTI continues to raise the bar across all mediums of advertising. In the past two years TTI has received more than 16 channel awards including Best of Show. We are honored to receive this special recognition from NEDA,” said Craig Conrad, TTI senior vice president of marketing and strategic planning officer.

TTI is a specialty distributor of passive, interconnect and discrete components.

www.ttiinc.com

Uniden introduces surveillance product line

Uniden America Corp. announced a new line of wireless video surveillance products and two-way radios for the North American market in October.

The introductions mark Fort Worth-based Uniden's entrance into the wireless video surveillance category and the expansion of its line of two-way radio solutions with the addition of two new floating, waterproof models.

“Making consumers’ lives easier through the creation of innovative, wireless products has always been the focus at Uniden,” said Rex Holloway, vice president of new product development at Uniden, in a press release. “Our new wireless video surveillance products and first-ever waterproof, floating two-way radios are natural extensions of our World Without Wires brand philosophy and perfect examples of Uniden's continued commitment to innovation.”

Uniden’s wireless video surveillance products use digital 2.4GHz wireless technology for secure, interference-free communications.

The product line includes a 3.5-inch portable wireless video monitor, a 7-inch wireless video monitor, an indoor/outdoor wireless camera and a compact portable wireless camera. The included surveillance software allows users to monitor and control the system from a personal computer, and offers a variety of recording capabilities, including scheduling and motion detection.

Uniden America Corp. is the North American subsidiary of Japan-based Uniden Corp.

www.uniden.com