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Imation Buys Nexsan For $120M To Beef Up Its SME Enterprise Storage Business

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http://techcrunch.com – Some consolidation in the world of enterprise storage to kick off the new year: the storage and data security giant Imation Corp. has acquired Nexsan Corporation, a specialist in disk-based storage systems, for $120 million, with $105 million of that in cash and the remainder in publicly-traded Imation shares, according to a statement from the companies. The move appears to be a part of Imation’s efforts to rebuild its business around more high-growth areas, as it comes off a particularly bad quarter of declining revenues in all of its existing lines of business. Like many other startup (IT news)