14 DAY TRIAL // Coming to add to the string of announcements about corporate acquisitions, Imation has issued a press release in which it states that it will completely buy all of IronKey's secure data storage hardware business.
As online storage gains prominence, it becomes obvious that companies have to keep ramping up their performance and security features, not just capacity and power efficiency.
Imation specializes in helping organizations and people “store, protect and connect their digital world,” so it needs these security technologies quite a bit.
Apparently, the company knows this very well, as it decided to go ahead and completely take IronKey's secure data storage hardware business off its hands.
In other words, about 40 employees from the privately held IronKey will transfer to Imation.
“IronKey’s secure storage customers and partners will benefit from Imation’s global reach in more than 100 countries,” said Arthur Wong, CEO of IronKey.
“IronKey will continue to build out solutions for providing secure online access by leveraging its online cloud services security platform to protect customers’ assets, data, and transactions across multiple form factors such as portable USB devices, software, and mobile applications.”
Through the deal, Imation will get an exclusive license for IronKey's secure management software and service, plus the permission to use the IronKey brand on storage products.
The transaction should close in about 30 days, during which time the two will also work on boosting cloud-based security services.
“This acquisition is another important step in Imation’s strategy to invest in leading technologies that enable us to deliver highly secure data storage solutions to our customers,” said Mark Lucas, president and chief executive officer, Imation Corp.
“IronKey’s products meet the highest security, performance, and privacy standards of Fortune 500, enterprise, government, and military customers. Our new partnership with IronKey will also enable us to add a cloud-based security solution to Imation’s offerings.”