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Thursday, January 3, 2013
Imation Buys Solid-state Storage Vendor Nexsan
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Imation has acquired privately held Nexsan Corporation,
a Thousand Oaks, Calif.-based provider of disk-based
storage systems.
The acquisition of Nexsan gives Imation a portfolio of
disk-based and hybrid disk and solid-state storage
systems, Imation said Wednesday. It is
expected to accelerate Imation?s growth in the small
and medium-sized business (SMB) and distributed
enterprise (SME) storage markets. Imation will provide
the Nexsan business with global scale storage brand for
global expansion.
The combination cash-and-stock transaction included
approximately $105 million in cash and 3,319,324
Imation common shares, the equivalent of approximately
$15 million.
Approximately 200 employees, based in the U.S., U.K.
and Canada, have joined Imation with this acquisition.
The Nexsan business will continue to operate within
Imation from Nexsan?s current headquarters in Thousand
Oaks, Calif., under existing management. Imation will
consider integration of Nexsan with its tiered storage
and security business in the first quarter of this
year. |
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