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 newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Mergers and acquisitionsbusiness issuesstorageimationNexsanMark Lucas

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

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?