Imation Corp., which develops, manufactures, and sells various electronic iPod and iPhone accessories under the Memorex brand, today announced its acquisition of Xtreme Accessories (XtremeMac) for a purchase price of $9 million. XtremeMac was one of the earliest developers of iPod accessories, but appeared to have struggled in recent months with iPhone compatibility, substantial release delays, and uncertainty as to whether prior products would come back into stock.
Commenting on the transaction, Frank Russomanno, Imation’s President and Chief Executive Officer said: “With the acquisition of XtremeMac, Imation has added a brand recognized and respected by Apple enthusiasts and one that enhances our portfolio of products serving the growing market for consumer electronics related accessories.”
Gary Bart, founder and President of XtremeMac, will join Imation as Executive Director, guiding the company’s Apple accessory design efforts. It is unclear how the acquisition will impact currently delayed XtremeMac products, such as the Luna X2 clock radio, and whether the company’s name will continue to appear on future products.