Product Code Database
Imation Corporation, was an American company which manufactured and marketed data storage products. It was founded in 1996 as a spin-off of 3M's data storage and imaging business. Imation had three core elements: traditional storage (magnetic tape and optical products), secure and scalable storage (data backup, data archive and data security for small and medium businesses) and what the company calls "audio and video information" products.
In January 2017, the company announced a change of name and direction, completing its move away from the data storage business towards being focused on asset management and strategic investment and rebranding itself as GlassBridge Enterprises.
The Imation brand was sold off later that year to O-Jin Corporation Co., a Korean company who have since licensed its use to other businesses, but retain ownership of it .
In late 2007, Imation acquired TDK's recording media business, including flash media, optical media, magnetic tape, and accessories, for $300 million. "Imation and TDK Agree to Imation's Acquisition of TDK Brand Recording Media Business for $300 Million in Stock and Cash" , Press Release, Imation.com, 19 April 2007. This also included a license to use the "TDK Life on Record" brand on data storage and audio products for 25 years. In September 2015, Imation announced that it had agreed to relinquish this license and would cease selling TDK-branded products by the end of the year..
In February 2012, Imation announced a product set to secure mobile data, identities, and workspaces, based on the idea that employees used portable storage devices to transport corporate data.
The security news followed five acquisitions the company made in 2011 in scalable storage and data security: ENCRYPTX; MXI Security from Memory Experts International; the assets of ProStor; the secure data storage hardware business of IronKey; and intellectual property from Nine Technologies. Imation received 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.
In October 2011, Imation products for small and medium businesses centered on its DataGuard and InfiniVault multi-tier data protection and data archive appliances.
The company sold 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 made the company into a global market share leader in sales of CD-R and DVD media before that business was shut down in 2016.
Net revenue for 2016 was $44.1 million, compared to $529.2 million the year before.
In 2019 Imation, by then under O-Jin's ownership, announced licensing deals for use of the brand by PNY Technology, Ritek Corporation and photo printer company Prinics.
O-Jin still owns the Imation brand.
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