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Imation Buys Nexsan In $120 Million Storage Deal

Imation acquired Nexsan, a move that will help significantly widen the company's storage solutions to include disk-based and flash storage-based technology.

The $120 million acquisition of Nexsan gives Oakdale, Minn.-based Imation, which is better known for its archiving and backup storage business, a huge 11,000-plus customer base and an active partner base as it looks to expand its storage footprint.

Under Imation, Nexsan will be run as a wholly-owned subsidiary of Imation headed by current Nexsan CEO Philip Black. Operations will continue to be managed from Nexsan's existing Thousand Oaks, Calif.-based headquarters.

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