In a digital age where the security of your files is priceless, Imation, a secure USB flash drive manufacturer, acquired the hardware sector of IronKey, a security and privacy storage company known for its cloud-based security services online.
With this strategic partnership, Imation reiterates the company’s vision of protecting consumer and enterprise data against any form of malware, loss or theft while addressing the rapid growth that demands it. As Ponemon Institute revealed, the cost of data breaches in 2010 aggregated to $7.2 million!
If you’ll recall, last year, Imation already made the initial move to focus on manufacturing highly secure USB sticks after announcing details about the Defender Collection of USB drives. Then in March of this year, it stepped it up a notch when it introduced the 64-gig drive and some new software that rivaled IronKey USB flash drive with 256-bit AES encryption, boasting with three levels of security and multiple counts of durability. Imation’s Defender Collection comes in four USB models equipped with the Defender Software Suite which can disable the USB if lost or stolen.
Yes, Imation and IronKey had been market competitors until now. Following the acquisition, Imation now gains license from IronKey for its secure storage management software as well as use the brand itself for Imation USB flash drive collections in the future. Also, about forty employees from IronKey’s hardware business were transferred to Imation. Both parties did not reveal the amount involved in the acquisition.
So what does Imation gets from this? Obviously, with IronKey’s vast clientele and prestigious product, Imation is expected to grow its customers worldwide and further expand its reach to more private and government companies whose data security is central. Both CEOs of Imation and IronKey agree that together, each of the brands can continue to thrive.
Now that they are a certified tag team, consumers around the world can (and should) expect more from Imation and IronKey. We just hope they create flash drives that are well within our financial means, right?
What do you think of Imation’s strategic acquisition?