In an acquisition that promises to create a combined company with over $1 billion in annual revenue, storage manufacturer
Iomega has "entered into a definitive share purchase agreement" with ExcelStor Great Wall Technology Limited -- another storage firm headquartered in Beijing but doing business out of the Cayman Islands. ExcelStor, a subsidiary of the $2.6 billion Great Wall Technology Company Limited, has been manufacturing certain external hard drives for Iomega since 2004. The deal, still subject to approval, would create an organization with a 3,000-member workforce, led by Iomega's current executives joined by former ExcelStor management in the positions of Executive Chairman and Chief Administrative Officer.
Reader Comments (Page 1 of 1)
Brodie @ Dec 13th 2007 11:02AM
Oh great. Does this mean Iomega will create another useless proprietary storage format that has capacities well under other more common media at 4 times the cost?
Stan Winstone @ Dec 13th 2007 11:29AM
Well this is like that Real Networks story from a couple of days ago. File under hard to believe company still exists...
DeathSeeker @ Dec 13th 2007 12:29PM
More buyouts? Excelsior!
Mike @ Dec 13th 2007 12:46PM
I agreed with #1. I will never buy another Iomega product. I have a DVD burner that just doesn't operate like its suppose to. The support is awful, the firmware won't update. Basically I have a large black useless box on my desk. Never again. Oh and Lite-on is inside.
dj-kenpo @ Dec 13th 2007 1:26PM
remember those 750mb iomega disks that used 90% of your cpu to write...
ya.. I miss you iomega, I'll keep my fingers crossed for you. except I'm busy right now, so I guess the crossing will have to wait.
AJ in the East Bay @ Dec 13th 2007 1:46PM
I can´t believe Iomega is still around.
Mark @ Dec 13th 2007 1:47PM
This company still exists?
bobby @ Dec 13th 2007 3:35PM
Not only do they still exist but now they also offer Data Recovery. lol. guess for all those zip disks with the "click of death" gave them experience in data recovery.
http://www.iomegadatarecovery.com/
Ed @ Dec 13th 2007 4:41PM
so? that doesn't make up for the many, many, many lousy products they've made over the years.
What am i forgetting... oh yeah. How are these guys still in business?
phlavor @ Dec 13th 2007 3:01PM
HAY GUYZ I GOT SOME BRAND NEW 100MB ZIP DISKS I'LL LET THEM GO FOR ONLY $10!!!!!!1
BowserUSC @ Dec 13th 2007 7:03PM
Dont forget jazz drives
Ed @ Dec 14th 2007 10:40PM
That billion dollars a year is from the absolute pain of their customers.
Every Iomega product I ever had was crap.
Their new Storcenter line products exist only to create new customers of their Data Recovery department.
Jerry @ Jan 10th 2008 6:56PM
WOW! I have bought Iomega products for ten years. ZIP 100MB, 250MB,750MB. Peerless, external drives and internal drives. I still have all of them and they are still working. Iomega is an excellent brand. I always found the support good.
Ed @ Jan 10th 2008 7:33PM
You got lucky. Most people did experience the click of death, data corruption. Iwas not specifically talking about their ZipDisk or JazDisk products.
There new DataStore center products is only a front to trap businesses that foolishly put critical data onto the unit (Its RAID 5, so theoretically low risk) and then lost it due to crappy ass firmware, and a shitty power block.
Then BAM! 5000$ dollar data recovery fees for a 700$ NAS unit that was supposed to implement RAID correctly.