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Imation buys storage tech maker ProStor

Mon, 08/29/2011 - 11:05am
The Associated Press

Imation Corp. acquired the assets of data storage technology company ProStor Systems, which makes data-storage technologies.

Terms of the deal, announced Monday, were not disclosed.

Imation, which makes USB flash drives and recordable DVDs and other consumer technologies, said Monday that it expects to maintain a presence in ProStor's base of Boulder, Colo., focused on engineering, support, sales and marketing.

"The acquisition of ProStor's assets is another step toward our growth strategy as a trusted technology leader in secure and scalable Storage solutions," Mark Lucas, Imation chief executive officer, said in a statement.

Imation shares rose 8 cents, or 1.2 percent, to $6.93.

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