Nordic Business Report-August 30, 2006-Tandberg Data ASA acquires Exabyte Corporation
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Norwegian data storage solutions manufacturer Tandberg Data ASA said on Wednesday (30 August) that it had acquired the US data storage company Exabyte Corporation for USD28m.
The merged company, with expected revenues of USD215m for 2006, would be the second largest player in data storage, according to Tandberg Data.
To finance the acquisition Tandberg Data will issue a USD35m bond loan, which has been fully committed by Cyrus Capital.
One US dollar (USD) is worth approximately 0.54 British pounds (GBP).
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