D&M Holdings Is High Bidder for SONICblue Units

Reprinted from a SONICblue press release:

SONICblue Incorporated today announced that D&M Holdings Inc. (TSE II: 6735) was the successful bidder in bankruptcy court auctions for SONICblue’s ReplayTV and Rio business units, with a combined purchase price for both units of $36.2 million.

“We believe that ReplayTV and Rio are the perfect complement to our existing product line,” said Tatsuo Kabumoto, chief executive officer and president, D&M Holdings. “Not only will we leverage the technology to enhance our existing products, we plan to grow and extend our customer base by adding the ReplayTV and Rio lines to our product portfolio.”

“With this sale, we finish a difficult chapter in our history and begin a new phase that we believe will be more conducive to the success of these businesses,” said Gregory Ballard, chief executive officer, SONICblue. “We have done all that we can for our creditors, and our product lines will continue to compete successfully in the marketplace. Many if not most of our employees will continue their work, and our customers will continue to enjoy Rio and ReplayTV in their homes.”