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Imation to buy Memorex; posts Q4 profit
20 January 2006 – Oakdale (MN): Imation is to buy Memorex International for $330 million in cash.
The
deal, which strengthens Imation’s CD and DVD business, includes
performance-based payments of $5 million to $45 million after the
transaction closes.
Imation has also posted Q4 earnings of $18.4
million, or EPS of $0.52, compared to last year’s loss of $7.9 million
or $0.23 per share.Imation to Ship Water Resistant Discs
New AquaGuard technology will provide protection from water and humidity
Imation
Corp. yesterday announced a new water-resistant and smear-resistant
surface for inkjet printable material. Dubbed AquaGuard, this new
surface cover material should start appearing on Imation optical media
in the second quarter of this year.
AquaGuard uses a proprietary
surface which uses nanoparticles to grip and hold ink, locking printed
images in place. This helps to resist smears and color bleeding when
exposed to water or humidity. Imation said discs with this technology,
which is already available in Japan, are compatible with all models of
leading inkjet-based disc duplication and printing equipment from
Primera as well as disc printable systems from Epson.
“Water-resistance
is a feature that our customers have been requesting for many years,”
said Mark Strobel, Primera’s vice president of sales and marketing.
“Imation’s AquaGuard surface delivers the outstanding print quality,
instantaneous drying and incredible water resistance that will allow
inkjet printed CDs and DVDs to be used in virtually any application
where exposure to raindrops, snowflakes or immediate handling was a
concern.”
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