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.
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."
Talk about a nightmare. I was literally a few months in after opening my firm and of 9 Zip drives Z100P2 3 developed the click of death. Iomegas' reaction after losing a lawsuit was to issue us a $30 coupon for each one (each drive was $200 new) and instructions to run it upside down. It did actually work but only for a few months.
That was my first experience with tech industry ineptitude and indifference.
