Monday, 14 April 2008

EMC Acquires Iomega

EMC announced yesterday that it has agreed to buy out Iomega, a San Diego based organisation that delivers data storage and protection for consumers and small businesses, for 213 million dollars...

EMC announced yesterday that it has agreed to buy out Iomega, a San Diego based organisation that delivers data storage and protection for consumers and small businesses, for 213 million dollars.

With this acquisition, EMC believes that Iomega will add to the growing list of product offerings and enhance EMC’s reach and focus in the rapidly-growing consumer and small business markets.

“Iomega will play a key role in EMC’s strategy to expand our information storage and management capabilities deeper into the high-growth consumer and small business markets. In addition to industry-leading products and a household consumer brand, Iomega brings to EMC a deep knowledge of and established business practices for servicing consumers and small businesses. Iomega and EMC represent a powerful combination that ultimately will benefit these customers through the protection, security and simplified management of their rapidly growing information,” said Joe Tucci, EMC Chairman, President and CEO.

“Today begins an exciting new future for Iomega and our customers. Once the acquisition is final, Iomega will be able to fully leverage EMC’s vast assets to grow our business globally. EMC brings to Iomega a new opportunity for accelerated innovation that will translate into new product capabilities for Iomega’s extensive customer base. Through the renowned Iomega brand; thousands of retail, direct marketing and distribution channel partners; and Iomega’s talented people, EMC will be able to extend its reach into the high-growth consumer and small business market segments,” said Jonathan Huberman, Chief Executive Officer, Iomega Corporation.

Upon completion of the acquisition, Iomega will serve as the core of EMC’s new Consumer/Small Business Products Division.