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Appeared on: Thursday, January 03, 2013
Imation Buys Solid-state Storage Vendor Nexsan

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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