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Imation Corp. (“Imation”) is a global data storage and information security company, whose products and solutions help store, manage and protect digital content.
Connected Data, Inc. (“Connected Data”) is a provider of enterprise-class, private cloud sync and share solutions to the SME market. Connected Data’s patented technology creates a mobile data infrastructure that delivers public cloud features without the expense or security compromises of cloud services.
A member of the Imation Board of Directors was both the CEO and shareholder in Connected Data; Imation’s Board formed a committee of independent directors to manage the Connected Data transaction.
Cypress acted as financial advisor to Imation in connection with the acquisition of Connected Data, and rendered fairness opinions.