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May 15, 1997updated 05 Sep 2016 12:36pm


By CBR Staff Writer

Imation Corp, the Oakdale, Minnesota-based imaging and information storage company currently working with OR Technology Inc on a 120Mb floppy drive (CI No 3,121), says it will acquire medical imaging software firm Cemax-Icon Inc. The deal provides for an initial cash payment of $30m, with additional amounts totaling up to $49m paid over the next two years depending upon how well the acquired assets perform for Imation. Imation will take a charge of $40m for the acquisition of in- process research and development.

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