Plasmon buys chunk of Cygnet Storage

Storage company Plasmon PLC, which owns Plasmon Data, said today it had bought the Cygnet's 12-inch jukebook manufacturing business for $3.65 million. Cygnet will carry on making the range of 12-inch jukeboxes at its San Jose plant until the end of this year, the company said. According to Plasmon chief executive Nigel Street, the acquisition completes his own company's 12-inch product line. The company said concerns about Y2K meant that the WORM market was expanding. ®