Feeds

Iomega says no to EMC

Drives unsolicited bid outta town

Security for virtualized datacentres

Portable hard drive maker Iomega has rejected a hostile $178m takeover bid from storage giant EMC.

The San Diego-based firm said in a statement that EMC’s indication that it was preparing to offer to acquire Iomega’s outstanding common stock for $3.25 per share “would not reasonably constitute a superior proposal”.

The Iomega board of directors added that "proposed due diligence contingencies were overly broad".

The board unanimously trampled on the bid at a meeting yesterday agreeing that the share purchase deal already in place with a number of firms based in the Cayman Islands, China and the British Virgin Islands, would not be superseded by EMC’s offer.

In December the firm said that it planned to buy Chinese hard disk drive manufacturer ExcelStor, a subsidiary of Iomega shareholder Great Wall Technology, which is a subsidiary of Chinese government-owned China Electronics Corporation.

Terms of that deal have been kept secret, but when it closes, subject to the usual regulatory clearance, Great Wall Technology will hold a majority stake in Iomega and Excelstor will function as a wholly-owned subsidiary of Iomega.

Things have been hotting up in the storage game over the past year or so with a number of big name vendors such as Seagate and Hitachi GST snapping up companies to enable them to go vertically integrated.

EMC's bid to buy out Iomega was presumably the Massachusetts-based firm's attempt to push its own end-to-end storage solution right down to the low-end.

EMC was not immediately available for comment. ®

New hybrid storage solutions

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.