Imation to buy Memorex



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 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.