Quantum Buys UK-based M4
- By Scott Bekker
- February 07, 2001
Looking to further enhance its storage solution portfolio, Quantum Corp.
announced today that it has
signed a definitive agreement to acquire M4
, a UK-based company that provides high performance tape
automation products for the data storage market.
Through the acquisition, Quantum will leverage M4's product
line to enhance the range of storage solutions offered. M4 will continue to
focus on developing solutions that incorporate higher cartridge capacities per
cubic foot than comparative products.
Under the terms of the agreement, Quantum will acquire all
the outstanding stock of M4 Data for approximately $56 million in
consideration, including $13.4 million in cash. The acquisition is expected to
close by March 31, 2001,
The impending acquisition is the latest step by Quantum to
gain a bigger presence in the enterprise storage market. Over the last year,
Quantum has partnered with Network Appliances to offer integrated SAN solutions
that allow NetApp filers to backup data directly over a network to any
available tape drive within a Quantum enterprise-class library. Other recent
initiatives include the introduction of Fibre Channel solutions and the
development of Internet-based remote management of Quantum tape libraries. – Jim Martin
Scott Bekker is editor in chief of Redmond Channel Partner magazine.