Quantum snaps up development partner Certance
Quantum snaps up development partner Certance
Oct 21, 2004: Tape storage vendor Quantum has agreed to acquire Certance, a global supplier of tape drives and data protection solutions, for US$60 million (AU$81.5 million). Certance is a co-developer of LTO technology and is a Technology Provider Company along with HP and IBM.
The acquisition will enhance Quantum's tape drive and media business by expanding its product and intellectual property portfolio and broadening its end-user customer base.
Completion of the deal is subject to antitrust review, as well as other customary closing conditions, but Quantum expects the acquisition to close within the fourth calendar quarter of 2004.
"Today's announcement reinforces Quantum's commitment to providing customers with tape technologies best suited for current and future environments," said Rick Belluzzo, chairman and CEO of Quantum. "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."
"Certance has made its mark as a leader in developing, manufacturing and marketing innovative new data protection solutions for companies of all sizes," said Howard Matthews, president and CEO of Certance. "We are excited about this combination because of the opportunity it provides both Certance and Quantum to serve an even broader range of customer needs with regard to reliability, capacity, performance and value."
As a result of the Certance acquisition, Quantum will add Travan, DDS/DAT and LTO Ultrium-format technology products to its current portfolio of DLTtape drives, as well as a DAT-72 autoloader and a disk-to-disk-to-tape appliance for small and medium-size businesses (SMB).
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