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Imation Corp Acquires Nexsan Corporation


Wednesday, 2 Jan 2013 08:00am EST 

Imation Corp announced that it has acquired privately held Nexsan Corporation, a Thousand Oaks, Calif.-based provider of disk-based storage systems. 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. Integration and global expansion activities between Imation`s Tiered Storage and Security Solutions business and Nexsan will be determined in first quarter 2013. 

Company Quote

3.1
-0.12 -3.73%
11:09am EST