Imation - Experts & Thought Leaders

Imation, a global data storage and information security company, recently announced it has partnered with Vista Networking Solutions (VNS), provider of innovative network video recorder storage devices, to engineer and bring to market a scalable and unique network video recorder (NVR) storage solution. By integrating removable and rugged RDX™ hard drive cartridges from Imation with SoleraTec’s innovative and modular Phoenix RSM™ video surveillance software, organizations now can deploy a solution purpose-built for medium and long-term video surveillance storage and maximize the security of their high-value data. The Integration The scalability, flexibility, and operational cost savings of using integrated multi-tiered storage platforms and multi-stream IP cameras provide a more affordable and easier to manage video surveillance retention solution. These solutions also are capable of retaining and managing video surveillance over several years instead of just days or weeks. Users can choose low-resolution video settings on primary or secondary storage and keep the RDX cartridges on the shelf where they consume no electricity to further improve the total cost of ownership for video surveillance retention.   “We are seeing market forces and company requirements push the retention periods for video surveillance storage, and RDX technology delivers the ease-of-use and peace-of-mind businesses need today,” said Michael Mader, executive director of the Global Commercial Tape and RDX business at Imation. “Video surveillance is an excellent market to showcase the removability, capacity and affordable costs of RDX technology.” RDX Platform Imation, with its RDX platform, provides a complete portfolio of purpose-built storage solutions enabling users to deploy the right storage products for the right application. Like with tape cartridges, RDX removable hard drive cartridges can be rotated through a long-term plan allowing re-use after the retention period has been exceeded. Alternatively, users may elect to retain video permanently by using new cartridges at each retention point. VNS Nnetwork Video Recorders “The VNS network video recorders with removable RDX storage technology provide an excellent way for business owners to implement video surveillance and retain the video as long as they wish,” said Mark Armstrong, CEO of SoleraTec. “The RDX removable cartridge is an excellent video storage platform, and we are delighted to be partnering with VNS and Imation on this solution.” Ideal For Mid-size Businesses RDX media-based removable storage offers rugged, reliable and convenient storage for all kinds of data assets, especially video assets. It provides enterprise performance and fast access, with transfer rates of up to 648GB/hr and capacities currently up to 2TB per cartridge. This delivers an ideal video storage solution for today’s mid-size businesses needing extra video retention periods. “The design and deployment of these specific system solutions optimized for RDX removable media allows our customers to choose a long-term retention policy that is right for them,” said Graham Joys, president of Vista Networking Solutions. “The flexibility to lay down low resolution or high resolution video streams to the RDX cartridges and add RDX cartridges over time provides a truly unique solution where customers can store video for a few months or a few years depending on their liability concerns.”

The acquisition of Nexsan brings to Imation a proven technology platform and a robust portfolio of storage systems Imation Corp., a global scalable storage and data security company, has reached an important milestone in its strategic transformation. Imation recently announced that it has acquired privately held Nexsan® Corporation, a Thousand Oaks, Calif.-based provider of disk-based storage systems. As the Company continues to execute its strategy, Imation is leveraging its deep data storage core, building a platform for long-term growth and improving operating margins in high-growth data storage and security solutions markets. The acquisition of Nexsan brings to Imation a proven technology platform and a robust portfolio of disk-based and hybrid disk-and-solid-state storage systems with more than 11,000 existing customers worldwide. It is expected to significantly accelerate Imation’s growth in the small and medium-sized business (SMB) and distributed enterprise (SME) storage markets. Imation will provide the Nexsan business with global scale and a well-known storage brand for global expansion. With SMBs and SMEs struggling to address their rapidly increasing data storage and management needs, the combined Imation and Nexsan portfolio will offer customers an attractive, price / performance alternative to competitive offerings. The combination cash-and-stock transaction included approximately $105 million in cash and 3,319,324 Imation common shares, the equivalent of approximately $15 million. “Imation’s acquisition of Nexsan is an exciting next step in our strategic transformation, which includes investing in growth platforms in data storage and security solutions, where we are targeting markets with strong growth rates,” said Mark Lucas, president and CEO of Imation. “Our strategy includes focusing on the underserved SMB market with purpose-built storage systems and appliances. This is a market that Nexsan knows well. Nexsan’s management team has grown this business from start-up to more than $80 million, with strong gross margins. Nexsan is a successful company that is addressing some of today’s fastest growing trends in storage, and we are pleased that its management team, including CEO Philip Black, will join Imation. The combination of Nexsan’s products, technologies, and talented teams with Imation’s global reach and infrastructure will be an excellent accelerator for our growth strategy in storage solutions,” concluded Lucas. “We are excited to have Nexsan become part of Imation,” said Philip Black, CEO of Nexsan. “Imation provides us the scale and global footprint to expand our business, while still keeping intact our award winning partner program, our strong management team and employees, and our innovative products and roadmap. We look forward to working as part of Imation to deliver compelling solutions that meet the growing storage, archive and compliance requirements of businesses worldwide. This is good news for Nexsan channel partners, employees and customers.” Nexsan’s 2011 revenues were $82 million and are continuing to grow, with gross margins in the 40 percent range. This acquisition is expected to be immediately accretive to Imation’s EBITDA. Approximately 200 employees, based in the U.S., U.K. and Canada, have joined Imation with this acquisition. The Nexsan business will continue to operate within Imation from Nexsan’s current headquarters in Thousand Oaks, Calif., under existing management. Integration and global expansion activities between Imation’s Tiered Storage and Security Solutions business and Nexsan will be determined in first quarter 2013. Imation Schedules Fourth Quarter 2012 Financial Results Conference Call Imation also announced that it is scheduled to release the Company’s fourth quarter 2012 financial results on Wednesday, February 13, 2013 at 6:00 a.m. Central time. A teleconference for the financial community and a live webcast are scheduled from 9:00 to 10:00 a.m. Central time. The live webcast of the teleconference will be available on the Internet at www.imation.com or www.streetevents.com. A replay of this webcast will be available at either of these websites through Friday, February 22, 2013. A taped replay of the teleconference will also be available beginning at 11:00 a.m. Central time, February 13, 2013 until 11:00 p.m. Central time February 22, 2013 by dialing (855) 859-2056 or (404) 537-3406 (Conference ID #64544023). All remarks made during the teleconference will be current at the time of the call and the replay will not be updated to reflect any subsequent developments.