Imation to acquire Memorex

Data storage maker Imation is poised to acquire Memorex International for US$330 million in cash.

in brief Data storage maker Imation is poised to acquire Memorex International for US$330 million in cash.

Memorex, a manufacturer of recordable magnetic tape for data storage, reported revenues of US$430 million and an operating income of US$30 million in the 2005 financial year.