View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
September 15, 1998


By CBR Staff Writer

Imaging and data storage outfit Imation Corp said that it has completed the sale of its CD-ROM services business to Metatec Corp of Dublin, Ohio, a move first announced by the company back in June (CI No 3,432). The final price paid for the unit – which saw 1997 revenues of $60m – was $39.8m, approximately $37m of which was in cash. The deal includes the transfer of all of Imation’s CD-ROM business, including assets in the Netherlands, Wisconsin and California. Roughly 45 of the 270 Imation employees affected by the sale will be lost in the shuffle, and the rest will find new homes at Metatec. Imation says the transaction will have no material impact on its third quarter results. The sale of the unit follows the company’s announcement that it plans to focus on its core markets of information and image management.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.