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Technology Stocks : Imation (IMN)

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To: pater tenebrarum who wrote (92)5/23/2000 9:17:00 AM
From: J Fieb  Read Replies (1) of 103
 
heinz, Went back and found this IMN pr release.....

Imation Announces Data Storage Software Development Strategy

Company?s software development efforts to focus on enabling hardware and software connectivity within heterogeneous data storage architectures

OAKDALE, Minn. (April 24, 2000) Imation Corp. (NYSE: IMN) today announced the Company?s plans to expand its broad portfolio of data storage and information management media, solutions and services, to include the development of data storage software.

With a focus on enterprise computing environments and customers? requirement for open storage architectures, Imation announced that it has expanded the Company?s base of research and development scientists to include a team of software development engineers.

Imation?s storage software development initiative focuses on creating solutions that reduce the total cost of ownership of storage in a heterogeneous environment including reduced overall maintenance and administration costs.

?We?re excited to have put in place a team of software engineers who bring a broad base of skills in the storage industry to this high-growth market,? said Steve Ladwig, president, Imation Data Storage and Information Management. ?Today?s announcement represents yet another important advancement in Imation?s strategy to become the leading independent storage solutions provider. With almost 50 years of leadership in the data storage business, this is not only a natural evolution of our business, but a critical and necessary competence within our portfolio.?

Imation officials stated that the Company currently is targeting its software development to storage industry leaders that are looking to address the complex connectivity challenges found in today?s enterprise data center environments.

?Our core objective is to provide a range of storage network-based management software and services that help our customers? address significant total cost of ownership issues," said Bradley Rubin, Ph.D., chief technology officer, Data Storage and Information Management. ?Our entrance into data storage software development is indicative of the Imation?s efforts to extend its worldwide leadership in removable storage media to offer a complete portfolio of services, solutions, and software.?

SO it looks like IMN has found an opportunity and is out after it. Seems to have to do with JIRO and heterogeneous storage. Certainly is a need. Anyone how how this would
fit or thrive with VRTS or LGTO? They must see something.
Anyone know what it is?
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