QMCO Quantum Corporation

SAN JOSE, Calif., March 17, 2020 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO) today announced it has completed its acquisition of the ActiveScale™ object storage business from Western Digital Technologies, Inc., a subsidiary of Western Digital Corp. (NASDAQ: WDC). The acquisition expands Quantum's leadership role in storing and managing video and other unstructured data using a software-defined approach.

Jamie Lerner, President and CEO, Quantum commented, "The strategic acquisition of ActiveScale bolsters our existing product portfolio and expands our addressable market providing critical software capabilities that enhance our go to market strategy with minimal risk to Quantum. With engineers who developed ActiveScale's erasure-coded object store software now on our team, we are in a position to pursue new object solutions truly optimized for managing video and other unstructured data." 

The ActiveScale product line adds object storage software and erasure coding technology to Quantum's portfolio, enabling the company to expand its product offerings in the object storage market. Object storage has emerged as a potent response to the exponential growth of video and other forms of unstructured data. This content requires high-speed capture and processing (typically done with a file system like Quantum's StorNext® solution), then is often retained for years or decades. Examples of this unstructured data include video and images for entertainment, surveillance and security, marketing and training, and more. Prior to this acquisition Quantum has successfully delivered and supported the ActiveScale object storage product line for over five years.

Additional Resources

For more about Quantum ActiveScale products:

• https://www.quantum.com/en/products/object-storage/
• *IDC Vendor Spotlight, sponsored by Quantum, "Managing Unstructured Data Growth Requires a Fresh Approach," January 2020. To download visit:  https://www.quantum.com/globalassets/documents/idc-vendor-spotlight.pdf

About Quantum
Quantum technology and services help customers capture, create and share digital content – and preserve and protect it for decades. With solutions built for every stage of the data lifecycle, Quantum's platforms provide the fastest performance for high-resolution video, images, and industrial IoT. That's why the world's leading entertainment companies, sports franchises, researchers, government agencies, enterprises, and cloud providers are making the world happier, safer, and smarter on Quantum. See how at www.quantum.com.

Quantum and the Quantum logo, as well as StorNext are registered trademarks or trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. ActiveScale is a common law trademark of Western Digital that was assigned to Quantum as part of the acquisition. All other trademarks are the property of their respective owners.

Forward-Looking Statements

This press release contains "forward-looking" statements. Quantum advises caution in reliance on forward-looking statements. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the results of Quantum Corporation and its consolidated subsidiaries ("Quantum") may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements regarding the anticipated benefits, risk and impact of the purchase of the ActiveScale business by Quantum and statements related to the expansion of Quantum's product offerings in the object storage market.  Risks, uncertainties and assumptions include the possibility that Quantum will not recognize the anticipated benefits of the transaction, including the risk of losing customers as the business transitions to Quantum; risks that Quantum cannot develop the technology to meet market needs and other risks related to the ActiveScale business, including integrating the business into Quantum's business; the need to address the many challenges facing Quantum's existing businesses; the competitive pressures faced by Quantum's businesses, including the ActiveScale business; risks associated with executing Quantum's strategy; the distribution of Quantum's products and the delivery of Quantum's services effectively; the development and transition of new products and services and the enhancement of existing products and services to meet customer needs and respond to emerging technological trends; and other risks that are described herein, including but not limited to the items discussed in "Risk Factors" in Quantum's filings with the Securities and Exchange Commission, including its Form 10-K filed with the Securities and Exchange Committee on August 6, 2019. Quantum expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

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SOURCE Quantum Corp.