Imation buys solid-state storage vendor Nexsan

The company expects that the $120 deal will help it expand into the small and medium-size business market

Imation, a storage and data security company, has acquired Nexsan, a vendor of disk-based storage systems, in a deal worth about US$120 million, the company announced.

The acquisition of Nexsan gives Imation a portfolio of disk-based and hybrid disk and solid-state storage systems, Imation said Wednesday. Nexsan, based in Thousand Oaks, California, has more than 11,000 customers worldwide.

Imation expects the deal to accelerate its growth in the small and medium-size business and distributed enterprise storage markets, the company said.

One of Imation's priorities will be to focus on the "underserved SMB market with purpose-built storage systems and appliances," Mark Lucas, president and CEO of Imation, said in a statement.  "This is a market that Nexsan knows well."

The transaction included about $105 million in cash and 3.3 million shares of Imation common stock, worth about $15 million.

Nexsan had revenue of $82 million in 2011.Approximately 200 employees, based in the U.S., U.K. and Canada, joined Imation with this acquisition.  The Nexsan business will continue to operate from Nexsan's current headquarters under existing management, Imation said. 

Imation will consider integration of Nexsan with its tiered storage and security business in the first quarter of this year.

Join the PC World newsletter!

Error: Please check your email address.

Tags business issuesMark LucasstoragesecurityNexsanMergers and acquisitionsimation

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Grant Gross

IDG News Service
Show Comments

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?