After being rebuffed on two previous occasions, business storage giant EMC has finally concluded a deal to acquire consumer storage company Iomega
for $213 million, or $3.85 per share. With this, EMC is looking to push into the consumer and small business sectors, aided by Iomega’s well known brand and knowledge of these markets.
Iomega was a notable name during the 1990s with popular products such as Zip and Jaz drives, though they suffered from some serious malfunctions that led to the term “
click of death.” The company has since moved into storage appliances and managed security services. The deal is expected to close in the second quarter this year, following regulatory approval.