Iomega to Acquire ExcelStor

Iomega have announced that they will buy the Hard Disk Manufacturer ExcelStor for $200 million, as Toms Hardware reports. Excelstor is owned and run by Beijing company Great Wall Technology. They make 20 million hard drives per year, and their 2006 revenue was $707.1 million – considerably higher than Iomega’s $229 million which was recorded during the same time frame.