Imation Corp. (NYSE:IMN) is stepping out front globally in the technology industry as a leading brand and product marketing company. It is transforming itself with a balanced portfolio of strong brands it owns, manages, or distributes in both consumer and commercial markets across removable data storage media, audio/video consumer electronics (CE) and accessories.
Created as a spin off from 3M Company in 1996, Imation's legacy reaches back, to the introduction of the first commercial data storage tape in 1953. The Company remains committed to being first to market with new tape formats, a commitment buttressed by more than 400 data storage-related patents. Today, Imation offers the broadest portfolio of media as the only industry player focused on data storage across all four pillars of storage - magnetic, optical, flash and hard disk.
The acquisition of Memorex (2006) and the TDK brand recording media business (2007) enabled Imation to expand beyond its strong business-to-business roots with a platform of recognized and respected consumer brands. Imation's strategy is built on growing its consumer and commercial product portfolios and extending brands selectively into the consumer electronics arena while maintaining its solid core position in commercial magnetic tape.
As the leading global supplier of tape cartridges to meet reliable backup and archival storage needs for enterprise and departmental data center environments, the Company distributes tape under the Imation, IBM, Sun (StorageTek), TDK Life on Record and Exabyte brands. Imation is also the global market leader in recordable optical media, distributed under the Imation, Memorex, TDK Life on Record and HP brands. In addition, Imation distributes USB flash drives, solid-state drives, removable and external hard disks under several brands across multiple channels.
With the acquisition (2007) of privately held Memcorp Inc., a consumer electronics marketing, distribution and licensing firm, the Minnesota-based company entered the growing CE market. Its initial focus is on the U.S. market selling audio and video products such as flat panel displays, HD televisions, digital picture frames, karaoke machines, MP3 players, i-Pod accessories, docking stations, and clock radios under the Memorex brand. The Company also is licensed to market Nickelodeon character based CE products under the NPower brand family.
With approximately 55 percent of its $2.1 billion in revenue in 2007 coming from outside the U.S., Imation serves customers in more than 100 countries. Imation common stock is traded on the New York Stock Exchange and the Chicago Stock Exchange under the trading symbol "IMN". As of March 31, 2008, Imation employed more than 2000 people worldwide.
