EMC acquires Zip-drive maker Iomega for $212.5 million, stopping a stock-swap merger with Great Wall Technology. Great Wall gets a $7.5 million deal-termination fee. The darling of personal storage in the ‘90s, the makers of Zip and Jazz drives, Iomega was once one of the hottest stocks in high tech, selling at $110 per share. Enterprise storage player EMC paid only $3.85 a share as a way to move into the high-growth consumer and small-business markets. Recently EMC paid $75 million for the consumer online storage service Mozy.Go Iomega
EMC Buys Iomega, Goes Consumer
EMC acquires Zip-drive maker Iomega for $212.5 million, stopping a stock-swap merger with Great Wall Technology. Great Wall gets a $7.5 million deal-termination fee. The darling of personal storage in the ‘90s, the makers of Zip and Jazz drives, Iomega was once one of the hottest stocks in high tech, selling at $110 per share. Enterprise storage player EMC paid only $3.85 a share as a way to move into the high-growth consumer and small-business markets. Recently EMC paid $75 million for the consumer online storage service Mozy.Go Iomega