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EMC Buys Iomega

Time: 11:10 EST/16:10 GMT | News Source: Neowin | Posted By: Michael Dragone

Iomega, a supplier of portable computer storage media best known for its "Zip" and "Jaz" drives, announced today that it had reached an agreement with EMC Corporation over a cash tender acquisition offer of $3.85 per outstanding share, or approximately $213 million. Joe Tucci, EMC Chairman, President and 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."

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