Quantum leaves the hard disk drive business
Quantum sets sights on a new future focused on data protection and storage solutions after selling its hard disk drive business to Maxtor.
After over 20 years in the hard disk drive business, Quantum has left it behind and has turned its focus exclusively on its data protection and storage solutions business.
Quantum stockholders approved the merger of the company's hard disk drive business with Maxtor last October, leaving Quantum to take on the likes of EMC in the storage industry.
“As the creation of corporate data continues at an unprecedented rate, enterprise customers are struggling to manage and protect that data under increased budget pressures and with limited internal storage resources," said Michael Brown, chairman and CEO of Quantum.
"This presents an incredible opportunity for us to evolve and grow as a company by harnessing our expertise in data protection to bring to market new scalable, integrated storage solutions and services for complex networked business environments."
With approximately US$1.4 billion in annual sales and about 3000 employees around the globe, Quantum is already established in data protection, with its mid-range tape drives and DLTtape automation systems.
Revenue of over $200 million annually, has allowed it to develop its position as a storage solutions provider, forming alliances with vendors such as Network Appliance, Veritas and Cisco, to offer complete storage networking solutions.
"Becoming more of a storage solutions company is a visionary move for Quantum," said Michael Peterson, president of Strategic Research Corporation.
"Storage solutions is a strong $100 billion growth market with many strategic opportunities for leadership. Quantum is now well positioned in the centre of this industry," he added.