Imation buys storage systems provider Nexsan for $120 million
(Reuters) - Storage and data security company Imation Corp bought Nexsan Corp, a privately held provider of disk-based storage systems, for about $120 million in cash and stock.
Imation will pay $105 million in cash and $15 million in stock, the company said in a statement.
Shares of Imation closed at $4.67 on the New York Stock Exchange on Monday.
(Reporting by Supantha Mukherjee in Bangalore; Editing by Joyjeet Das)
- Qatar adamant it will host 2022 World Cup despite doubts
- Argentina's Fernandez to meet billionaire investor Soros in New York
- New Jersey hiker killed by black bear : police
- Islamic State urges attacks on U.S., French citizens, taunts Obama
- Housing data hits Wall Street; S&P has worst day since August 5