Glassbridge Enterprises

Glassbridge Enterprises, known as Imation Corporation prior to 2017, is an American holding company. Through the company's two subsidiaries, Glassbridge focuses primarily on investment, asset management and global enterprise data storage. Prior to the name change, Glassbridge had three core elements – traditional storage (magnetic tape and optical products), secure and scalable storage (data backup, data archive and data security for small and medium businesses) and what the company calls “audio and video information” products.[3]

Glassbridge Enterprises, Inc.
Imation Corporation
Traded as
  • OTCQXGLAE (2017-present
  • NYSE:GLA (2017)
  • NYSE: IMN (prior to 2017)
FoundedMarch 1996 in Maplewood, Minnesota, United States[1]
(as a spin-off)
Key people
Danny Zheng
(CFO and Interim CEO)
Joseph De Perio
(Non-Executive Chairman)
Tavis Morello
(General Counsel)
RevenueDecrease $1.460 billion (2010)[2]
Number of employees
1,210 (2009)[2]
SubsidiariesGlassBridge Asset Management
Nexsan Corporation


Imation was started in 1996, when 3M spun off its data storage business. The company underwent a divestment of non-core businesses, and invested in four core product technology areas: secure storage, scalable storage, wireless/connectivity, and magnetic tape.[4] As part of 3M, the company was involved in the development of many technological improvements in data storage, such as the introduction of the first magnetic tape in 1947, the first quarter-inch tape cartridge for data storage (QIC) in 1971, and the 3.5-inch (89 mm) floppy disk in 1984.

In February 2012, Imation announced a product set for securing mobile data, identities, and workspaces, based on the premise that employees used portable storage devices to transport corporate data.[5]

The security news followed five acquisitions the company made in 2011 in scalable storage and data security: ENCRYPTX;[6] MXI Security from Memory Experts International; the assets of ProStor; the secure data storage hardware business of IronKey; and intellectual property from Nine Technologies. Imation received an exclusive license from IronKey for its secure storage management software and service and a license to use the IronKey brand for secure storage products.[7]

In October 2011, Imation products for small and medium businesses centered on its DataGuard and InfiniVault multi-tier data protection and data archive appliances.

The company sold consumer electronics, headphones and accessories under the Imation, Memorex, TDK Life on Record, and XtremeMac brands. The combined Imation, Memorex and TDK Life on Record brands made the company into a global market share leader in sales of CD-R and DVD media[8][9][10] before that business was shut down in 2016.[11]

Imation changed its name to Glassbridge Enterprises on February 21, 2017.[12] Net revenue for 2016 was $44.1 million, compared to $529.2 million the year before.[13]

Glassbridge Enterprises sold the Imation brand name to O-Jin Corporation on August 4, 2017.[14]

PNY Technologies is now advertising the Imation brand name to sell USB flash drives and optical media.[15]

See also


  1. ^ "10-K Annual Report, 12/31/1996". Securities and Exchange Commission. Retrieved November 7, 2010.
  2. ^ a b "10-K Annual report". February 26, 2010. Retrieved September 9, 2010.
  3. ^ "Imation Reports Quarter 2012 Financial Results". April 12, 2012.
  4. ^ Joseph F. Kovar (March 3, 2011). "Imation Looks To Data Security, Data Leakage Tech With ENCRYPTX Acquisition". CRN.
  5. ^ Neil J. Rubenking (February 14, 2012). "Imation Unifies IronKey, MXI, and ENCRYPTX Technologies". PC Magazine Online.
  6. ^ Ed Stych (December 20, 2011). "Imation makes another tech purchase, adds ex-CEO to company". Minneapolis St. Paul Business Journal.
  7. ^ "Imation buys IronKey's secure data storage hardware business". Minneapolis St. Paul Business Journal. December 20, 2011.
  8. ^ "CD Tracker: Trends for CD-R/RW Writer and Media Markets". Santa Clara Consulting Group. 2011. Retrieved February 1, 2012.
  9. ^ "DVD Tracker: Trends for DVD Recorder and Media Markets". Santa Clara Consulting Group. 2011. Retrieved February 1, 2012.
  10. ^ "Back-Up Tape Tracker: Q.4-2011 Global Review". Santa Clara Consulting Group. 2011. Retrieved February 1, 2012.
  11. ^
  12. ^
  13. ^ "GlassBridge Annual Report". Glassbridge. 2017.
  14. ^ "GlassBridge Sells IMATION® Trademark to O-Jin Corporation" (Press release). Oakdale, MN, USA. PRNewswire. 2017-12-01. Retrieved 2018-04-21.
  15. ^

External links


The 3M Company, formerly known as the Minnesota Mining and Manufacturing Company, is an American multinational conglomerate corporation operating in the fields of industry, worker safety, health care, and consumer goods. The company produces a variety of products, including adhesives, abrasives, laminates, passive fire protection, personal protective equipment, window films, paint protection films, dental and orthodontic products, electronic materials, medical products, car-care products, electronic circuits, healthcare software and optical films. It is based in Maplewood, Minnesota, a suburb of St. Paul.In 2017, 3M made $31.7 billion in total sales, and the company ranked No. 97 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. The company has 91,000 employees and has operations in more than 70 countries.

Alex Spiro

Alex Spiro (born December 12, 1982) is an American trial lawyer. He is currently a partner at the New York Office of Quinn Emanuel Urquhart & Sullivan.

Linear Tape-Open

Linear Tape-Open (LTO) is a magnetic tape data storage technology originally developed in the late 1990s as an open standards alternative to the proprietary magnetic tape formats that were available at the time. Hewlett Packard Enterprise, IBM, and Quantum control the LTO Consortium, which directs development and manages licensing and certification of media and mechanism manufacturers.

The standard form-factor of LTO technology goes by the name Ultrium, the original version of which was released in 2000 and can hold 100 GB of data in a cartridge. The eighth generation of LTO Ultrium was released in 2017 and can hold 12 TB in a cartridge of the same size.

Upon introduction, LTO Ultrium rapidly defined the super tape market segment and has consistently been the best-selling super tape format. LTO is widely used with small and large computer systems, especially for backup.

List of Minnesota companies

The following list of Minnesota companies includes notable companies that are, or once were, headquartered in Minnesota.


Memorex Corp. began as a computer tape producer and expanded to become both a consumer media supplier a major IBM plug compatible peripheral supplier. It was broken up and ceased to exist after 1996 other than as a consumer electronics brand specializing in disk recordable media for CD and DVD drives, flash memory, computer accessories and other electronics.

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