SOURCE: Dane-Elec

Dane-Elec

September 26, 2013 09:00 ET

Gigastone Takes Majority Interest in Consumer Electronics Company Dane-Elec USA

New Ownership of Dane-Elec to Expand Product Development and Manufacturing Capabilities

IRVINE, CA--(Marketwired - Sep 26, 2013) - Dane Elec USA, an established consumer electronics brand throughout the Americas, announced today that Gigastone Corporation, a leading Taiwan-based technology manufacturer, following a decision by the French Commerce Court (Tribunal de Commerce) on June 30, 2013, has been authorized to acquire a majority stake in its share capital. Gigastone, one of the fastest growing technology companies in Taiwan, will bring its resources in product development and manufacturing to Dane-Elec USA.

"We look forward to combining the individual strengths of Gigastone and Dane-Elec to effectively penetrate both the North and South American markets," said Michel Hassan, general manager of Dane-Elec USA. "Gigastone has an extensive background in research and development that will be an invaluable asset to the company when introducing new products."

A cornerstone of Gigastone's business philosophy is investing in research and development for new products and technologies. As a result, Gigastone holds patents in a variety of mobile categories, including power banks, wireless charging, Ethernet and 3G. To support the strong growth the company has achieved, in July 2013 it opened a new 50,000 square foot factory in Taiwan.

"Dane-Elec brings a strong sales and marketing team that complements the research and development side of Gigastone," said Michael Wang, CEO and chairman of Gigastone Corporation. "We are confident that this new corporate structure will be prosperous for all involved."

The minority shareholder in Dane-Elec USA is New Dane, a European based investment group.

About Dane-Elec USA
For more than 25 years Dane-Elec has consistently provided award-winning, industry-leading products to its customers. Brands such as Duracell, Marvel/Disney, Activision/Blizzard, and many more rely on Dane-Elec's expertise to deliver customized storage solutions that live up to customer expectations. Recognized as a leading authority in quality memory products, Dane-Elec designs, assembles and distributes its products through its own network in the U.S., Canada, and South America.

About Gigastone Corporation
Founded in 2010, Gigastone is one of the fastest growing consumer electronics manufacturers and product development companies with more than 10 offices worldwide. Gigastone is a publicly listed company in the emerging stock market section of the Taiwan Stock Exchange and shipped more than 100 million products in 2012. A cornerstone of Gigastone's business philosophy is investing in research and development for new products and technologies. The company holds 16 patents in a variety of mobile and networking categories including power banks, wireless storage, Ethernet routers and 3G routers, as well as owns flash controller technology. For more information please visit: www.gigastone.com.