Imation Purchases Security Company's Data Storage Business

Technology firm Imation has purchased the assets of Internet security and privacy leader in the business of secure data storage hardware. The US-based firm enters into a strategic partnership with IronKey, which Imation receives a license to use the mark for the IronKey secure storage products. IronKey will also offer the online company's cloud-based security services.

Imation strategic approach offers data security that addresses issues facing businesses, governments and end users when it comes to protecting against data loss, theft and security breaches, it said. Mark Lucas, president and CEO of Imation, described the acquisition as an important step in the growth strategy of the company.

"We are making technology investments in key growth markets that allow us to expand our position in the data storage, security, file protection," he added. Computer giant IBM has recently completed the acquisition of Q1 Labs as part of its long-standing plan to grow its services and security software businesses.