EMCis acquiringSME and consumer data-storagefirm
Iomega for £107m to extend its sales reach.
The addition of Iomega's products, brand name, route to market
and industry expertise will enhance EMC's reach and focus in the
rapidly growing consumer and small business markets, said EMC.
EMC said the acquisition was expected to be completed in the
second quarter.
Joe Tucci, EMC's CEO, said, "Iomega will play a key role in
EMC's strategy to expand our information storage and management
capabilities deeper into the high-growth consumer and small
business markets.
"In addition to industry-leading products and a household
consumer brand, Iomega brings to EMC a deep knowledge of and
established business practices for servicing consumers and small
businesses."
Upon completion of the acquisition, Iomega will serve as the
core of EMC's new Consumer/Small Business Products Division.
SME storage.