Imation Acquires Data Security Firm


Oakdale, Minn. - Imation has acquired MXI Security, a supplier of data-security solutions and technologies to enterprises.

Financial terms of the transaction between Imation and MXI parent Memory Experts International were not disclosed.

About 40 employees of the Montreal-based MXI are expected to transfer to Imation with the acquisition.

"This acquisition represents another significant step in Imation's strategy to invest in key technology platforms to address customers' needs for data storage, protection and connectivity," said Imation's president and CEO Mark Lucas. "MXI is an innovative leader in high-security and privacy technologies whose solutions will enhance Imation's ability to meet our global customers' growing needs in information security, compliance and management. The MXI team also brings strong technology skills in secure hardware and software engineering, enterprise security solutions, government-validated encrypted USB devices and cryptology to Imation's research, development and engineering organization."

Commenting on the importance of continued strategic OEM relationships, Lucas said: "Imation looks forward to building upon the strength of MXI Security OEM relationships, including McAfee. McAfee is a highly strategic OEM partner to MXI Security and Imation intends to continue the strategic sales, marketing and engineering investments in the McAfee relationship to drive new technology solutions."

Imation's acquisition of MXI Security follows the March acquisition of the assets of Encryptx, a supplier of encryption and security solutions for removable storage media and devices.


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