14 DAY TRIAL // On Monday, Imation Corp announced its acquisition of Xtreme Accessories LLC, also known as XtremeMac. XtremeMac is responsible for some of the most stylish iPod and iPhone accessories, and has generated approximately $25 million of revenue in 2007.
Imation, the world's biggest provider of removable data storage products, made it official yesterday that it has acquired "substantially all of the assets of privately held Xtreme Accessories, LLC". The deal was signed as follows: 7 Million now; 2 million for "assumed net liabilities."
As noted above, the Florida-based product design and marketing firm focused on consumer electronics products has produced some of the finest iPod and iPhone accessories out there, as well as several products aimed at the Apple TV. Some of these accessories include the Sportwrap, the Tango Studio and the Tuffwrap Plus (for iPods) and the HDMI Switcher (for the Apple TV). Scroll down for the pictures.
"This acquisition is another building block in our strategy as we build a portfolio of strong brands that resonate with consumers -- in this case the large and growing number of iPod, iPhone and Apple TV customers," said Frank Russomanno, Imation's President and Chief Executive Officer, commenting on the transaction. "With the acquisition of XtremeMac, Imation has added a brand recognized and respected by Apple enthusiasts and one that enhances our portfolio of products serving the growing market for consumer electronics related accessories. The XtremeMac accessories can be found in Apple stores, consumer electronics retailers and on-line channels," Russomanno added.
"The combination of XtremeMac's market knowledge and product design skills with Imation's global reach and supply chain capabilities allows us to take advantage of the worldwide market opportunity in A/V consumer electronics accessories and create an unparalleled experience for our customer base," said Gary Bart, founder and President of XtremeMac. "I am pleased to join the global Imation team as Executive Director, guiding iPod, iPhone and Apple TV accessory product design and direction as we integrate the XtremeMac brands into the growing Imation portfolio."
