Saturday, July 04, 2015
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Minecraft Windows 10 Edition Beta Revealed
U.S. In Running out Of IP Addresses
Uber Suspends UberPOP in France
Casio To Enter The Smartwatch Market
GELID Has A new Low-profile CPU Cooler for Intel LGA115x
Sharp Plans to Release Transparent LCDs
ARCHOS Unveils the ARCHOS 50d Helium
July 29 Won't Be The Day You'll Get Your Windows 10 Upgrade
Active Discussions
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
How to burn a backup copy of The Frozen Throne
Help make DVDInfoPro better with dvdinfomantis!!!
Copied dvd's say blank in computer only
menu making
Optiarc AD-7260S review
 Home > News > Optical Storage > Imation...
Last 7 Days News : SU MO TU WE TH FR SA All News

Friday, January 20, 2006
Imation Buys Memorex


Imation and Memorex announced Thursday they have entered into an agreement under which Imation will acquire Memorex International in an all cash transaction for $330 million.

"This acquisition is a major strategic milestone for Imation, as we implement our profitable growth strategy. It is also a win-win for both companies' customers and shareholders," said Bruce Henderson, Imation Chairman and CEO. "We are gaining a powerful consumer brand and global market share leader in recordable CDs and DVDs as well as an experienced management team under the leadership of Mike Golacinski. Added to our technology expertise, strong B2B brand, global footprint, broad product portfolio and industry experience, we are creating a new global powerhouse in the data storage industry."

Michael Golacinski, President and CEO of Memorex International, Inc, will head up Imation's consumer business, maintaining the Memorex headquarters in Cerritos, CA.

In Memorex's fiscal 2005, ended March 31, the company reported revenue of $430 million and operating income of $30 million. In the subsequent two quarters, ending September 30, 2005, Memorex's revenue totaled $205 million and operating income totaled $14 million. After completion of integration, Imation expects Memorex to be significantly accretive adding approximately $32 million to $36 million in annualized operating income and approximately $0.40 to $0.47 earnings per share.


Previous
Next
Kingmax DDRII 667 Notebook Memory        All News        Samsung Announces Blu Ray Disc Drive Development Completion
Record Industry Claims Court Cases Against Internet Piracy Work     Optical Storage News      Samsung Announces Blu Ray Disc Drive Development Completion

Get RSS feed Easy Print E-Mail this Message

Related News
Imation Adds IronKey S1000 Products to Its Secure Family of USB Storage Devices
Imation Unveils Secure Hard Drives With Cloud Connectivity
Imation Introduces NST4000 Hybrid Storage Appliance
Imation IronKey Workspace W700 Flash Drive Now Available
Imation Launches New Version of Nexsan E-Series Storage Arrays
Memorex Adds New Models To Its Fun Series Line of USB Flash Drives
TDK Life on Record Launches New Trek Wireless Outdoor Speaker
IronKey Workspace USB Drives Now Certified for Windows To Go
Imation Launches New Hybrid Storage Solutions with Fibre Channel
Imation Enhances RDX Technology Portfolio
Imation Announces The Assureon 7 Storage Solution
Blu-ray Patent Pool Takes Imation To Court

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .