Sphere 3D Buys RDX Removable Disk Product Lines From Imation

Sphere 3D Corp (ANY), a virtualization and data management solutions provider, on Thursday said its subsidiary, Overland Storage Inc, acquired the RDX removable disk product lines and existing inventory assets from Imation Corp (IMN) in a stock transaction valued at about $4.9 million plus the net value of existing inventory of about $1.4 million.

The company expects the deal to be accretive in this quarter for both revenue and gross margin.

The Imation RDX product lines generated about $14.5 million of revenue for Imation in the trailing twelve months as of June 30.

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