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Non-Tech : Iomega Thread without Iomega

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To: KM who wrote (191)6/29/1998 7:39:00 AM
From: Dwight Griffin   of 10072
 
Trufflette: I especially liked the middle paragraph below. I don't know if it is just spin, since the recent rulings didn't seem to be going in IOMs favor - but it should make for an interesting day!)

Iomega Corp., a maker of computer storage disc drives Monday said it settled a patent infringement case with France's Nomai SA(NOMF.PA)and will also purchase a majority stake in the company for $21 million.

In a statement, Iomega said the settlement came after information surrounding the worldwide litigation against Nomai brought the French maker of removable storage systems to the conclusion ''that there was substantial evidence that a court may rule against it.''

During their settlement talks they began to discuss the potential benefits of an investment in Nomai by Iomega, which in turn led to a stock purchase agreement and technology assignment agreement.
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