"We have taken a close look at SyQuest's assets, particularly its intellectual property, and concluded that they can add value to our business and our shareholders," said Jodie Glore, Iomega's president and chief executive. Iomega is not purchasing SyQuest's liabilities. Warranty service and customer support obligations for products sold by SyQuest will remain the responsibility of SyQuest. Iomega also isn't purchasing SyQuest's subsidiary in Malaysia. SyQuest Malaysia's assets are being offered for sale separately, and Iomega said it will submit a bid for SyQuest Malaysia's equipment and inventory at "a price substantially below that being paid for the US assets." The deal also puts an end to the patent and trademark infringement lawsuits between the companies. The deal, set to close in the first quarter 1999, will have no effect on Iomega's fourth quarter 1998 financial results.