03:55 
Wed, 7th January 2009
EMC Snaps Up Iomega for a Cool $213 Million
Remember Iomega? No? Well, how most that Zip Drive that utilised to utter and birr for hours on your desk? Great. Storage consort EMC has declared its acquisition of the storage-based marginal concern for $213 million.
Iomega was the dearie of the school hit boom, but the ontogeny popularity of the CD-R and winkle hardware caused problems for the company. Today, the hit is roughly worth $3.60 — a large modify from the $100+ it fetched backwards in the 90’s.
Iomega CEO Jonathan Huberman tells CNet that the advise is every most growth. "Our markets are adjacent, but not overlapping," said Huberman. "We hit brawny sort and steer proximity in playing and consumer (markets), but what we do demand is scale."
What do you conceive the forthcoming holds for an EMC-run Iomega? Our money’s on a connexion of Iomega’s fleshly hardware with EMC’s online hardware (gained from its Mozy acquisition). Sound soured in the comments.
Photo: Flickr/Keuynish
Melted From: Epicenter
Tags: acquisition, consumer markets, darling, desk, emc, epicenter, flash storage, huberman, iomega ceo, jonathan, money, photo, physical storage, popularity, presence, sizable drop, stock boom, storage company, whir, zip drive
