EMC (NYSE: EMC), the world leader in infrastructure solutions announced a definitive deal to acquire San Diego based Iomega, the leader in data storage and protection.

EMC will acquire Iomega in a cash offer of $3.85 per outstanding share, or approximately $213 million. The goal of the acquisition is to leverage Iomega’s brand name and expertise to “expand our information storage and management capabilities deeper into the high-growth consumer and small business markets,” says EMC Chairman, Joe Tucci.

The offer will commence over the next two weeks, with completion of the acquisition expected during the second quarter of 2008. Not only does Iomega bring industry-leading products, but an important contribution to EMC is the household consumer brand coupled with a extensive knowledge of business practices that serve consumers and small businesses directly.

Chief Executive Officer of Iomega Corporation, Jonathan Huberman, said, “Once the acquisition is final, Iomega will be able to fully leverage EMC’s vast assets to grow our business globally.”

In January 2008, EMC announced the new EMC LifeLine software for the consumer, home office and small business markets. Simultaneously, Iomega announced plans to embed EMC LifeLine into its multi-drive network storage products, which are expected this summer with the launch of its next-generation StorCenter Network Hard Drive products.

About Iomega
Iomega Corporation, headquartered in San Diego, is a worldwide leader in innovative storage and network security solutions for small and mid-sized businesses, consumers and others. The Company has sold more than 400 million digital storage drives and disks since its inception in 1980.

About EMC
EMC Corporation is the world’s leading developer and provider of information infrastructure technology and solutions that enable organizations of all sizes to transform the way they compete and create value from their information.

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