Storage and data security company Imation Corp. has acquired Nexsan Technologies for approximately $120 million in cash and stock. Mooreland Partners acted as financial advisor to Imation. Nexsan is a provider of disk-based and hybrid disk-and-solid-state storage systems.
Mooreland Partners is pleased to announce that it acted as exclusive financial advisor to Imation Corp. on its acquisition of Nexsan Technologies for approximately $120 million in cash and stock.
Imation is a global scalable storage and data security company. The Company’s portfolio includes a variety of tiered storage and security offerings for small and medium-sized businesses and products designed to manage audio and video information in the home. With over $1.1 billion in annual revenue, Imation reaches customers in more than 100 countries through a powerful global distribution network and well recognized brands.
Nexsan is a leading provider of disk-based and hybrid disk-and-solid-state storage systems. Nexsan’s hybrid storage systems combine solid-state technologies, disk storage and advanced software to deliver higher levels of performance and capacity at lower cost. The acquisition of Nexsan accelerates Imation’s strategic focus on tiered storage and security growth platforms for small and medium-sized businesses and distributed enterprise (SME) markets. Nexsan is expected to be immediately accretive to Imation’s EBITDA.
For more information, visit www.imationcorp.com
The acquisition of Nexsan by Imation, which closed on 31 December 2012, brings to 26 the total number of transactions announced by Mooreland in 2012 and highlights Mooreland’s expertise in enterprise and storage systems, along with the firm’s buy-side advisory capabilities.