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June 27, 1997updated 05 Sep 2016 12:15pm

IMATION MOVES INTO INTERNET SERVICES WITH IMAGINET BUY

By CBR Staff Writer

3M Corp spin-off Imation Corp is buying again, and this time the storage and imaging specialist is heading in to Internet services with the acquisition of privately held Internet service provider Imaginet Inc. Terms of the deal were not disclosed, and Imation doesn’t expect any material impact on its 1997 figures as a result of the purchase. Following the acquisition, Imation will set up Imation Internet Services, a business that will provide Internet and intranet technology to its existing printing, graphic arts, data storage and medical imaging customers. Imaginet president Scott Litman will head the new venture. Imation Internet Services will offer Web site design and consultancy, programming, database integration and creative input. Founded in 1991, Minneapolis, Minnesota-based Imaginet employs around 20 people and provides Internet services to manufacturing and service-based companies.

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