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EMC buying Iomega

Tim Higgins

April 09, 2008

EMC and Iomega late yesterday announced a definitive agreement for EMC to acquire San Diego-based Iomega in a cash tender offer of $3.85 per outstanding share, or approximately $213 million.

The deal is expected to close in the second quarter of this year, subject to regulatory approvals. The acquisition is expected to have "no material impact" on EMC financial results for the full 2008 fiscal year.

Upon completion of the acquisition, Iomega will serve as the core of EMC’s new Consumer/Small Business Products Division. The new division will also include EMC Retrospect and EMC LifeLine software.

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Tags: EMC, Iomega,

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