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Article: JAPAN'S TDK TO SELL RECORDING MEDIA MARKETING OPS TO IMATION.
- Article from:
- AsiaPulse News
- Article date:
- April 20, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TOKYO, April 20 Asia Pulse - TDK Corp. (TSE:6762) said Thursday that it will sell its business in marketing removable data storage media, which includes DVDs, to U.S. firm Imation Corp. for roughly 36 billion yen (US$303.46 million).
The Japanese firm is to transfer its recording media sales operations to Imation in the July-September quarter in exchange for 2.4 billion yen in cash and new shares in the U.S. firm worth 17 per cent of its outstanding shares, making TDK Imation's top shareholder.
The deal will also allow Imation to sell TDK-manufactured DVDs, magnetic tapes, flash memory and other products under the TDK brand for as long as 25 years. At ...