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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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