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    Friday, January 20, 2006

    Imation Buys Memorex
    Imation has acquired Cerritos-based Memorex, a manufacturer of CD and DVD media, optical and flash drives, and media accessories. Imation said that it will acquire Memorex for $330M in cash, plus contingent payments of up to $45M. Imation is a competing manufacturer of media for the computer industry. Imation said that it believes the acquisition will be accretive, and add $32 to $36M to its annual operating income.
    posted on Friday, January 20, 2006

    Related stories:
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    > Memorex Taps M-Systems For Flash Drives
    > MusicIP Inks Deal With Memorex
    > Overland Names VP Sales
    > MusicIP Adds Board Member, Sales VP

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