Iomega never recovered from the double blow of manufacturing defective Zip drives and failing to foresee the world of cheap, ubiquitous recordable CDs. It has no growth products and no new ideas.
Apparently it’s been hoarding cash and cutting costs. According to this article, it has $454 million dollars in cash, and a stock value of $483 million. There’s tax reasons that make it less attractive to a US company, so look for a takeover by an overseas buyer. And for goodness’ sake, don’t buy a zip drive! Buy a USB drive (see my news item on November 20) or use CDRs to move files around.