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SymbolPriceChangeIMN6.800.00
OAKDALE, Minn.?(BUSINESS WIRE)?
Imation
Corp. (NYSE:IMN ? News), a leading global technology company dedicated to
helping people and organizations store, protect and connect their
digital world, and IronKey, a global leader in securing data and online
access, today announced that they have entered into a definitive
agreement under which Imation will acquire the assets of IronKey?s
secure data storage hardware business.
The two companies also announced a strategic partnership whereby Imation
will receive an exclusive license from IronKey for its secure storage
management software and service, and a license to use the IronKey brand
for secure storage products. IronKey will partner with Imation to
provide its online cloud-based security services.
Approximately 40 employees of the privately held IronKey business are
expected to transfer to Imation with the acquisition. Financial terms of
the acquisition, expected to close within 30 days, were not disclosed.
?This acquisition is another important step in Imation?s strategy to
invest in leading technologies that enable us to deliver highly secure
data storage solutions to our customers,? said Mark Lucas, president and
chief executive officer, Imation Corp. ?IronKey?s products meet the
highest security, performance, and privacy standards of Fortune 500,
enterprise, government, and military customers. Our new partnership with
IronKey will also enable us to add a cloud-based security solution to
Imation?s offerings.?
?IronKey?s secure storage customers and partners will benefit from
Imation?s global reach in more than 100 countries,? said Arthur Wong,
CEO of IronKey. ?IronKey will continue to build out solutions for
providing secure online access by leveraging its online cloud services
security platform to protect customers? assets, data, and transactions
across multiple form factors such as portable USB devices, software, and
mobile applications.?
The secure storage products and technologies transferring to Imation
include multifunction portable computing devices that protect stored
data with strong hardware encryption. IronKey secure storage devices are
validated by the National Institute of Standards and Technology to meet
the stringent Level 3 criteria of FIPS 140-2. Combined with the
cloud-based IronKey Enterprise Management Service, data security can be
managed and audited from anywhere in the world.
About Imation Corp.
Imation Corp. (NYSE:IMN ? News) is a leading global technology company
dedicated to helping people and organizations store, protect and connect
their digital world. Our portfolio of data storage and security
products, electronics and accessories reaches customers in more than 100
countries through a powerful global distribution network. Imation
Corp.?s global brand portfolio includes Imation, Memorex, XtremeMac, TDK
Life on Record, and MXI Security brands. Additional information about
Imation is available at http://www.imation.com.
About IronKey
Ranked by The Wall Street Journal as the 14th best venture-funded
company in their ?Next Big Thing 2011? survey, IronKey secures data and
online access for over 3,000 enterprises with software and hardware
solutions managed through cloud-based services. IronKey secures data and
online access with software and hardware solutions managed through
cloud-based services. IronKey?s award-winning Trusted Access for Banking
helps financial institutions reduce the risk of online fraud and acquire
new customers by enabling secure browsing safe from crimeware attacks on
their clients? PCs. Trusted Access meets new Federal Financial
Institutions Examination Council (FFIEC) guidelines for layered online
banking security as well as recommendations from the FBI and NACHA.
Visit www.ironkey.com
for more information.
Imation, the Imation logo, Memorex, XtremeMac, and MXI Security, are
trademarks of Imation Corp. and its subsidiaries. The TDK Life on Record
logo is a trademark of TDK Corporation. All other trademarks are
property of their respective owners.
Article source:[http://finance.yahoo.com/news/Imation-to-Acquire-IronKeys-bw-190957830.html?x=0&.v=1]
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Source: http://bludelta.tk/2011/09/23/imation-to-acquire-ironkey%E2%80%99s-security-hardware-business/
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