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ProStor Gets $5M From Imation

Boulder, Colorad-based ProStor, a developer of removable hard disk format and related products, has received $5M in an investment from Imation Corp.. Imation announced the deal today in conjunction with a new, license agreement with ProStor on its RDX removable disk format. Imation said that it had signed a 10-year license extension on RDX, giving it rights to manufacture, market, and sell RDX removable hard disk systems through 2020. ProStor develops a 2.5-inch, hard drive cartridge format targeted at replacing tape backup technology. The firm also sells its own line of storage products under the ProStor Infinivault line, using the RDX format. ProStor is headed by Frank Harbist. More information »