Iomega announced Monday it has purchased for $21 million most of the remaining stock of a French computer data storage company that it took control of in June.
Iomega now owns 98 percent of the stock of Nomai S.A. of Avranches, France. The Utah-based computer data storage company had acquired controlling interest in the company from its principal and other major shareholders two months ago.The tender offer for the remaining shares was made according to French law, the company said in a news release. About 665,000 shares were sold to Iomega after its offer.
Iomega first became interested in Nomai after the Utah company sued in Paris over copyright infringement. It was during settlement negotiations with Nomai that Iomega determined the company had something to offer.
Chief executive officer James E. Sierk said previously that Nomai has a "pretty reasonable research and development team" that could benefit Iomega.
The companies previously settled the lawsuits.