Imation and Moser Baer sign joint venture to develop optical storage media

Imation and Indian optical storage company Moser Baer have joined forces to meet growing demand for optical storage

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By  Mark Sutton Published  March 6, 2003

Imation has agreed to form a joint venture with Moser Baer India, a leading manufacturer of optical storage media. The joint venture company, Global Data Media, will work to meet growing demand for optical media, and develop new technologies in this sector.

Moser Baer will also become a supplier for Imation under the agreement. Global Data Media will be set up with an investment of $10 million, with Imation controlling 51% and Moser Baer 49%.

“Imation has been a worldwide leader in data storage for more than 50 years – from our origins as 3M’s Data Storage Division to today, including 20 years of optical technology development,” said Bill Monahan, Imation chairman and CEO. “Imation's objective is, and has always been, to apply our expertise to deliver the best removable media solution to our customers.”

“Moser Baer has successfully developed cutting-edge technologies in the data storage market for almost twenty years, and our reputation for delivering high-quality products and services has established us as one of the leading optical media manufacturers in the world,” said Deepak Puri, chairman, Moser Baer India. “By maximising our manufacturing excellence, along with Imation’s distribution and technology leadership, we can more effectively meet the needs of our global distribution partners for optical media formats.”

“Optical media is rapidly becoming a universal format for digital content in professional and personal desktop and consumer electronics applications, and this convergence is driving explosive demand,” said Frank Russomanno, president, Imation’s Data Storage and Information Management business. “By bringing together the resources of two leading optical media companies to form Global Data Media, we are in an even stronger position to meet the increased market demand for superior media. This joint venture demonstrates that we are committed to building upon our experience of advancing the performance capabilities of optical media.”

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