Quantum to buy tape rival Certance

By Ed Frauenheim
Staff Writer, CNET News

Data storage tape company Quantum on Wednesday said it will pay $60 million in cash to acquire rival tape technology developer Certance. The purchase price excludes the distribution to the sellers of up to $34 million from Certance's balance sheet, Quantum said.

Certance developed LTO Ultrium format with partners IBM and Hewlett-Packard. Quantum, the creator of DLTtape technology, already sells LTO Ultrium-format drives in its tape automation systems. "As a newly combined $1 billion company building on Quantum's and Certance's complementary strengths, we will offer the industry's broadest portfolio of tape and disk systems for backup, recovery and archive," Quantum CEO Rick Belluzzo said in a statement.

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by kevinch December 5, 2008 11:20 PM PST: Very nice information.

UT4B4.
Tape4bckup.com; Like this Reply to this comment

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