Dorsey client, Imation Corp., announced the acquisition of Memorex International, Inc. for $330 million. "This acquisition is a major strategic milestone for Imation, as we implement our profitable growth strategy. It is also a win-win for both companies' customers and shareholders," said Bruce Henderson, Imation Chairman and CEO. "We are gaining a powerful consumer brand and global market share leader in recordable CDs and DVDs as well as an experienced management team under the leadership of Mike Golacinski. Added to our technology expertise, strong B2B brand, global footprint, broad product portfolio and industry experience, we are creating a new global powerhouse in the data storage industry."
Dorsey was Imation's exclusive legal advisor in connection with the transaction.