U.S.-based storage and peripheral developer Iomega has inked a deal to buy Chinese storage manufacturer ExelStor for about $315 million in an all-stock deal. ExcelStor developers and manufactures digital storage devices like hard drives, and has manufactured Iomega’s REV products since 2004 and has also manufactured selected Iomega external hard drive products, along with products for other vendors on an EOM basis. Iomega is touting the deal as one that converts a $230 million corporation into a $1 billion "global technology powerhouse" and enable the company to develop new products across several categories of consumer electronics.
