EMC Buys 90s High Flyer Iomega For $213 Million
Storage giant EMC is buying Iomega for $213 million in cash, a slight premium above its $200 million market cap at the close of trading today. Iomega, which makes portable hard drives and Zip drives, will become the core of EMC’s consumer and small business storage device business. During the 1990s, Iomega was one o the original tech momentum stocks, trading as high as $111 (adjusted for splits). Today, it closed at $3.64.
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