logo
  

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Hormel Foods Corp. (HRL) said, in the fourth quarter, the company delivered earnings per share comparable with record results last year, which included an additional week of sales. Pretax earnings were $357 million, up 1% from a year ago. Organic net sales were up 2%, excluding the impact of an additional... Over the Thanksgiving holiday weekend, from Thanksgiving Day to Cyber Monday, around 196.7 million Americans shopped in stores and online, higher than the previous year, according to the National Retail Federation or NRF. Black Friday continued to be the most favored day for in-store as well as online shopping during the five-day holiday period. Lenoir, North Carolina -based Exela Pharma Sciences, LLC has expanded its recall of Sodium Bicarbonate Injection due to vial breakage to include more lots, the U.S. Food and Drug Administration said. The product is used for treatment of metabolic acidosis and is packaged in a 50 mL glass vial, 20 vials per carton.
Follow RTT