Deals
Imation Buys Nexsan for About $120 Million
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Imation Corp., the technology company spun off from 3M Co. in 1996, acquired Nexsan Corp. for about $120 million, adding disk-storage products to its lineup and providing more access to small and mid-sized businesses.
Imation will pay about $105 million in cash, as well as stock worth approximately $15 million, the Oakdale, Minnesota-based company said today in a statement. Nexsan, a closely held company in Thousand Oaks, California, has more than 11,000 customers, Imation said.