back to article Imation agrees deal to offload Nexsan to private equity

Imation has reached an agreement to sell its Nexsan storage array and Connected Data subsidiaries to private equity company Spear Point Capital Management in a non-cash deal. The stock purchase agreement is detailed in an Imation 8K SEC filing. Here's a timeline of the relevant events: Jan 2013 - Imation buys Nexsan for $ …

  1. Pirate Bob

    Pirate Bob

    Appears to be a deal where by Bob "fox in the hen house" Fernander self enriches himself and the Clinton Group, from every angle, and speeds up the cash drain at Imation. A funding failure may be the fastest path to more cash for Bob.

    Is Nexsan worth anything?

    My perception is that their value proposition is fewer pesos per pound of long-in-the-tooth storage.

    I would venture the termination cost would exceed the assets of the company so cheaper to spin off

    and let die than to hold and let die. Much cleaner exit strategy by foxy Bob.

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