Imation to Sell RDX™ Storage Business

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OAKDALE, Minn.--(BUSINESS WIRE)--Imation Corp. (NYSE:IMN) (the “Company”) today announced an agreement to sell its RDX™ Storage product line, including associated inventory, to Sphere 3D (NASDAQ:ANY) for approximately $6 million. Under terms of the agreement, Imation will receive approximately 1.5 million shares of Sphere 3D common stock, which are subject to registration by Sphere 3D. “We’re pleased to sell RDX to a company that knows the space and is committed to the business,” said Imation’s

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