Feeds

Plasmon doubles through Philips acquisition

Optical and tape drive manufacturing capacity for first time

  • alert
  • submit to reddit

Secure remote control for conventional and virtual desktops

Plasmon is beefing up its removable storage portfolio with the $26.4 million acquisition of Philips LMS, a manufacturer of magnetic tape drives and optical media. In a shareholder circular, Plasmon said the acquisition would help the company achieve its aim to become a leading player in the high-end stroage systems market. According to Plasmon the key elements of such systems are optical disk and tape drives; libraries; storage media; and integration software. Plasmon says it is well positionsed in three of these areas -- “However, the core technology in removable storage systems is the drive, a product for which Plasmon currently has no manufacturing or technology position”. Described as a “division of an affiliate of Royal Philips Electronics, Philips LMS nearly doubles the size of Plasmon, drive manufacturing capacity to the party –- and significantly enhances the profitability of its new parent company. Philips LMS made an operating profit of $7.3 million on sales of $32.1 million for the nine months to 25 September, 1998, against Plasmon’s pre-tax profit of £200K (1997: loss of £8.2 million) on sales of £20.0 million (1997: £14.2 million) for the six months to 30 September, 1998. Plasmon aims to raise up to £10 million (before expenses) through a placing and open offer for new shares. It will pay $18.5 million in cash on completion of the deal, and the rest is payable in cash over two years. ®

Website security in corporate America

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.