ProStor Raises $5 Million From Imation Corporation

ProStor is a company that develops devices such as removable hard disks.  Imation Corporation has invested $5 million into ProStor earlier this week.  As part of the agreement, Imation has made a licensing agreement with ProStor for the company’s RDX removable disk format.  Imation signed a 10 year license extension on RDX, giving them the rights to manufacture, market, and sell the technology.  [TechRockies]

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at
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