Imation
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| Imation Corporation | |
|---|---|
| Type | Public (NYSE:IMN) |
| Founded | Maplewood, Minnesota, USA (1996) |
| Headquarters | Oakdale, Minnesota, USA |
| Key people | Frank P. Russomanno, CEO Paul R. Zeller, VP/CFO |
| Industry | Data Storage |
| Products | Data Storage |
| Revenue | US$2.0 billion (projected 2007) |
| Employees | 2,070 (2006) |
| Website | imation.com |
Imation NYSE: IMN is a US based multi-national corporation that designs, manufactures, sources or markets a wide range of recordable data storage media and consumer electronics products.
The company is a 1996 spin off of 3M and is headquartered in Oakdale, Minnesota. The company was originally comprised of former 3M divisions involved in the design, manufacture and sales of data storage, medical imaging, printing, photographic film, optical and specialty paper products. Imation has since sold all but its core data storage media products business.
The company has been involved in the development of many technological improvements in data storage, such as the introduction of the first magnetic tape in 1947, the first quarter inch tape cartridge for data storage (QIC) in 1971 and the 3.5 inch floppy diskette in 1984. The company now has a market presence in more than 100 countries.
[edit] Transformation to a Brand and Product Management Company
Imation is transforming itself into a brand management company. Imation purchased Memorex in April 2006, and the TDK Brand Recording Media business in July 2007. The combined Imation, Memorex and TDK brands make the company the global market share leader in sales of CD-R and DVD media. It is also a leader in flash media sales.
The company will continue to develop, manufacture and market recordable magnetic tape products used by enterprises to back up their electronic data as they have done for over 50 years. The company currently sells data recording media under the Imation, Memorex, TDK, IBM, Sun StorageTek, HP and Exabyte brands.
