Iomega is expected to complete within the next month its acquisition of the assets of bankrupt

Posted on February 01, 1999

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Iomega is expected to complete within the next month its acquisition of the assets of bankrupt rival SyQuest for approximately $9.5 million. The move would encompass SyQuest?s intellectual property, inventory and fixed assets, but Iomega is not expected to assume SyQuest?s material obligations or liabilities. The two companies announced they will drop their patent infringement lawsuit, which would have gone to trial in April.

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