Only a month after storage vendor Iomega rejected a buyout offer from infrastructure giant EMC, the companies hav gone ahead and done a deal: EMC will be acquiring Iomega for $213 million in an all-cash deal. The offer translates to $3.85 per share, which is a significant improvement over the $3.25 per share (or $178 million) EMC offered for the company back in March.
“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,” said EMC chairman, president, and CEO Joe Tucci, in a statement. “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.”
