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Iomega takes over ExcelStor

Iomega takes over ExcelStor

Iomega, the well-known manufacturer of storage products, takes over the companies 'ExcelStor Great Wall Technology Limited' and 'Shenzhen ExcelStor Technology'. Iomega will exchange 84 million shares for all ExcelStore shares for this.

ExcelStore, currently in seventh place on the world market with just under two percent market share, mainly produced as a contract manufacturer for various companies, including Iomega . However, the company also sold articles under its own label, but mainly in Asia. Last year the company had sales of $ 707 million. Both companies expect sales of over $ 1 billion after the merger. As usual, the authorities, shareholders and other bodies still have to agree to this before the takeover can be completed in the middle of next year.

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