Imation Buys Memorex, Passes Go, Collects $200

This image was lost some time after publication.
This image was lost some time after publication.

Data storage manufacturer Imation has acquired Memorex for 330 million bones with additional payments of up to $45 million to come in the future. The deal should be completely sealed by the second quarter of 2006 and Imation expects an increase of $34 million annualized operating income. Memorex has been around since the 1970s when they busted into the audio cassette market and as of late they have focused a lot of their attention on PC peripherals and portable media. Good game, Memorex, good game.

Imation Buys Memorex [Extremetech]

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