Imation to acquire IronKey’s security hardware business

Imation, a global technology company dedicated to helping
people and organizations store, protect and connect their digital world, and
IronKey, announced that they have entered into a definitive agreement under
which Imation will acquire the assets of IronKey’s secure data storage hardware

The two companies also announced a strategic partnership
whereby Imation will receive an exclusive license from IronKey for its secure
storage management software and service, and a license to use the IronKey brand
for secure storage products. IronKey will partner with Imation to provide
its online cloud-based security services.

Approximately 40 employees of the privately held IronKey
business are expected to transfer to Imation with the acquisition. Financial
terms of the acquisition, expected to close within 30 days, were not disclosed.

This acquisition is another important step in Imation’s
strategy to invest in leading technologies that enable us to deliver highly
secure data storage solutions to our customers,” said Mark Lucas, president and
chief executive officer, Imation.

IronKey’s products meet the highest security,
performance, and privacy standards of Fortune 500, enterprise, government, and
military customers. Our new partnership with IronKey will also enable us to add
a cloud-based security solution to Imation’s offerings,” Lucas added.

IronKey’s secure storage customers and partners will
benefit from Imation’s global reach in more than 100 countries,” said Arthur
Wong, CEO of IronKey.

IronKey will continue to build out solutions for
providing secure online access by leveraging its online cloud services security
platform to protect customers’ assets, data, and transactions across multiple
form factors such as portable USB devices, software, and mobile applications,”
Wong added.

The secure storage products and technologies transferring
to Imation include multifunction portable computing devices that protect stored
data with strong hardware encryption.

IronKey secure storage devices are validated by the
National Institute of Standards and Technology to meet the stringent Level 3
criteria of FIPS 140-2. Combined with the cloud-based IronKey Enterprise
Management Service, data security can be managed and audited from anywhere in
the world.

By Team
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