Monday, August 29, 2011

ProStor Systems Acquired By Imation

Boulder, Colorado-based ProStor, the developer of archival backup systems and technology, has been acquired by Imation, a provider of data storage products, Imation announced this morning. Financial terms of the acquisition were not announced. According to Imation, it will retain approximately 15 employees in Boulder for engineering, support, sales and marketing. The sale of ProStor comes only four months after ProStor sold off its RDX removable disk technology to Tandberg, and refocused on the sale of backup and archive systems. ProStor had been backed by Imation, which invested $5M in the firm in March of last year.