8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 13, 2009

Imation Corp.

(Exact name of registrant as specified in its charter)

DELAWARE	1-14310	41-1838504
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)

1 IMATION WAY OAKDALE, MINNESOTA	55128
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (651) 704-4000

None
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events

     Imation Corp. today announced that it has entered into a confidential settlement agreement ending all legal disputes with Philips Electronics N.V., U.S. Philips Corporation and North American Philips Corporation.

     Reference is made to the Registrant’s press release dated July 15, 2009, which is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K.

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Imation Corp. (REGISTRANT)
Date: July 15, 2009	By:	/s/ Paul R. Zeller
		Paul R. Zeller
		Senior Vice President and Chief Financial Officer

EXHIBIT INDEX

Exhibit	Description of Exhibit
99.1	Press release, dated July 15, 2009

EX-99.1

Exhibit 99.1

	1 Imation Place Oakdale, MN 55128-3414 www.imation.com

Contacts	Investors:
	Matt Skluzacek
	Imation Corp.
	651.704.5818
	mskluzacek@imation.com
	News Media:
	Mary Rawlings-Taylor
	Imation Corp.
	651.704.6796
	mjrawlings-taylor@imation.com

Imation Announces Broad Settlement Ending Legal Disputes With Philips

     OAKDALE, Minn. — (July 15, 2009) — Imation Corp. (NYSE: IMN) today announced that it has entered into a confidential settlement agreement ending all legal disputes with Philips Electronics N.V., U.S. Philips Corporation and North American Philips Corporation (collectively “Philips”). The companies had been previously involved in a complex series of disputes in multiple jurisdictions regarding cross-licensing and patent infringement related to recordable optical media. The settlement provides resolution of all claims and counterclaims filed by the parties without any finding or admission of liability or wrongdoing by any party. As a term of the settlement, Imation will pay Philips $53 million over a period of three years. Other terms of the settlement were not disclosed. As a result of the settlement, Imation expects to record a charge, based on the present value of these payments, of approximately $49 million or $0.81 per share in the second quarter of 2009. The pre-tax cash impact for 2009 will be approximately $16.5 million, occurring during the second half of this year.

     “We are pleased to settle this very costly and distracting litigation and to eliminate an ongoing risk for the Company. In addition to resolving our differences, we have established a framework for cooperation going forward,” said Frank Russomanno, vice chairman and chief

(more)

Imation Announces Broad Settlement Ending Legal Disputes with Philips
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executive officer of Imation. “As a global leader in the data storage industry, Imation looks forward to continuing to provide high-quality optical media under Imation, Memorex, TDK Life on Record, and private label brands to our customers around the world.”

     Imation will release its second quarter 2009 financial results on Wednesday, July 22, 2009 at 6:00 AM Central Daylight Time (“CDT”), as previously announced. A teleconference for the financial community and a live webcast are scheduled to begin at 9:00 AM CDT. At that time, more information regarding the settlement will be provided.

About Imation Corp.

     Imation is a leading global developer and marketer of branded products that enable people to capture, save and enjoy digital information. Our world-class portfolio of digital storage products, audio and video electronics and accessories reaches customers through a powerful global distribution network. Our goal is a company with strong commercial and consumer businesses and continued long-term growth and profitability that creates shareholder value. Imation Corp.’s global brand portfolio, in addition to the Imation brand, includes the Memorex brand, one of the most widely recognized names in the consumer electronics industry, famous for the slogan, “Is it live or is it Memorex?” and the XtremeMac brand. Imation is also the exclusive licensee of the TDK Life on Record brand, one of the world’s leading recording media brands. Additional information about Imation is available at www.imation.com.

Imation, the Imation logo, Memorex, the Memorex logo, ‘Is it live or is it Memorex?’ and XtremeMac are trademarks of Imation Corp. and its subsidiaries. The TDK Life on Record logo is a trademark of TDK Corporation. All other trademarks are property of their respective owners.