Data recovery services firm Ontrack Data International Inc said Thursday it has acquired Mijenix Corp for $7m in cash and stock. Privately-held Mijenix supplies software designed to enhance the use and stability of Windows-based systems. In addition to the purchase price, the deal includes an earnout based on Mijenix meeting certain financial performance goals. The transaction will be accounted for as a purchase and is expected to close by the end of this month.
Minneapolis-based Ontrack says the acquisition furthers the company’s strategy to become a single-source provider of data availability products and services by expanding its offerings beyond data recovery to include products for improved PC performance and failure prevention.
Mijenix is the developer of the ZipMagic and FreeSpace compression tools, as well as the PowerDesk Utilities file manager and Fix-It Utilities general-purpose utility for Windows and NT. The company had $4m in revenues in 1998. Terms of the deal call for its 30 employees to remain at their present location in Boulder, Colorado, while Mijenix CEO Jennifer Kronenberg and CTO Pierre-Michel Kronenberg will join Ontrack as consultant and chief technology officer, respectively.