SyQuest's Plans to Acquire Nomai are Discontinued
Last week MacinStuff reported SyQuest Technology would be acquiring Nomai, today Syquest announced these plans are no longer being pursued.
SyQuest said that Nomai had attempted to substantially alter the terms of the acquisition reached in the letter of intent announced on Nov. 18. As a result, Nomai reneged on terms agreed upon in the prior week, the company said.
SyQuest had previously obtained a court judgment against Nomai for infringement of intellectual property rights. The company said it will take aggressive legal action to protect such property rights and to otherwise enforce its claims against Nomai.
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