toggle

AAPL Stock: 108 ( + 1.02 )

Printed from http://www.macnn.com

Imation to acquire XtremeMac

updated 12:05 pm EDT, Mon June 30, 2008

Imation acquires XtremeMac

Imation has acquired "substantially all" of XtremeMac's assets, according to a company announcement. The deal is said to be worth at least $9 million, divided between $7 million in cash and a remaining amount in assumed liabilities; Imation may additionally pay as much as $10 million over the course of three years, depending on how profitable the acquisition becomes. In any case the company does not expect the deal to substantially affect its fiscal 2008 results.

Imation is primarily known for its storage media, such as cartridges, DVDs and solid-state drives. XtremeMac by contrast is known for mostly for iPhone and iPod accessories, such as cases and the Luna X2 clock radio. It has also branched out into Apple TV accessories like HDMI-to-DVI adapters.

The founder of XtremeMac, Gary Bart, will retain a leadership role, guiding the remnants of his company under a new accessories division.




by MacNN Staff

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

MacNN Sponsor

Recent Reviews

Tablo DVR

With over-the-top content options growing past Hulu and Netflix, consumers may be finding it harder to justify paying a monthly fee fo ...

Sound Blaster Roar Bluetooth speaker

There could very well be a new king of the hill for Bluetooth speakers, with Sound Blaster's recent entry into the marketplace. Bring ...

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this ...

toggle

Most Commented