Imation

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Imation Corporation
Type Public
Traded as NYSEIMN
Industry Data Storage
Founded March 1996,[1] Maplewood, Minnesota, U.S.
Headquarters Oakdale, Minnesota, U.S.
Key people Mark Lucas (President, CEO, and Director),
L. White Matthews, III (Non-Executive Chairman)
Paul R. Zeller (SVP/CFO)
Products Data Storage
Revenue Decrease$1.460 billion (2010)[2]
Employees 1,210 (December 31, 2009)[2]
Website imation.com

Imation, based in the St. Paul suburb of Oakdale, Minnesota, is an American technology corporation that describes itself as a global scalable storage and data security company. The company has three core elements – Traditional Storage (magnetic tape and optical products), Secure and Scalable Storage (data backup, data archive and data security solutions designed for small and medium businesses) and what Imation calls “Audio and Video Information” solutions and products.[3]

History[edit]

Imation was started in 1996, when 3M spun off its data storage business. The company has undergone a divestment of non-core businesses, and according to a press release issued by Imation in February 2011, the company is investing in “four core product technology areas: Secure Storage, Scalable Storage, Wireless/Connectivity, and Magnetic Tape."[4]

The company has been involved in the development of many technological improvements in data storage, such as the introduction of the first magnetic tape in 1947, the first quarter-inch tape cartridge for data storage (QIC) in 1971 and the 3.5-inch (89 mm) floppy disk in 1984. The company now has a market presence in more than 100 countries.

In February 2012, Imation announced a "unified Secure Data, Identity and Mobile Workspace product set" that includes solutions for securing mobile data, securing mobile identities and securing mobile workspaces – all based on the reality that employees are using portable storage devices to transport corporate data more and more.[5]

The security news follows five acquisitions the company made in 2011 within scalable storage and data security: Louisville, Colo.-based ENCRYPTX;[6] Montreal-based MXI Security from Memory Experts International; the assets of Boulder, Colo.-based ProStor, including the InfiniVault tiered storage system; IronKey's secure data storage hardware business; and intellectual property and other assets, including key data deduplication technology from Middleboro, Mass.-based Nine Technologies. As part of the deal with IronKey, Imation entered a strategic partnership whereby Imation receives an exclusive license from IronKey for its secure storage management software and service and a license to use the IronKey brand for secure storage products.[7]

In October 2011, Imation introduced a unified, tiered storage solution portfolio for small and medium businesses (SMB), centered around its DataGuard and InfiniVault multi-tier data protection and data archive appliances.

In addition to selling mobile security and scalable storage solutions, the company sells consumer electronics, headphones and accessories under the Imation, Memorex, TDK Life on Record and XtremeMac brands. The combined Imation, Memorex and TDK Life on Record brands make the company the global market share leader in sales of CD-R and DVD media.[8][9][10]

See also[edit]

References[edit]

  1. ^ "10-K Annual Report, 12/31/1996". Securities and Exchange Commission. Retrieved November 7, 2010. 
  2. ^ a b "10-K Annual report which provides a comprehensive overview of the company for the past year". corporate-ir.net. February 26, 2010. Retrieved September 9, 2010. 
  3. ^ "Imation Reports Quarter 2012 Financial Results.". April 12, 2012. 
  4. ^ Joseph F. Kovar (March 3, 2011). "Imation Looks To Data Security, Data Leakage Tech With ENCRYPTX Acquisition.". CRN. 
  5. ^ Neil J. Rubenking (February 14, 2012). "Imation Unifies IronKey, MXI, and ENCRYPTX Technologies". PC Magazine Online. 
  6. ^ Ed Stych (December 20, 2011). "Imation makes another tech purchase, adds ex-CEO to company". Minneapolis St. Paul Business Journal. 
  7. ^ "Imation buys IronKey's secure data storage hardware business". Minneapolis St. Paul Business Journal. December 20, 2011. 
  8. ^ "CD Tracker: Trends for CD-R/RW Writer and Media Markets". Santa Clara Consulting Group. 2011. Retrieved February 2012. 
  9. ^ "DVD Tracker: Trends for DVD Recorder and Media Markets". Santa Clara Consulting Group. 2011. Retrieved February 2012. 
  10. ^ "Back-Up Tape Tracker: Q.4-2011 Global Review". Santa Clara Consulting Group. 2011. Retrieved February 2012. 

External links[edit]