Storage company Quantum said Tuesday it plans to purchase rival tape vendor Advanced Digital Information for approximately $US770 million.
The move will expand Quantum's salesforce, channel partnerships and OEM (original equipment manufacturer) arrangements, the company said in a statement. Quantum expects cost savings to come through elimination of overlap between the two complementary companies in such areas as manufacturing, operations, research and development and marketing.
Pending shareholder and regulatory approval, the deal is expected to close in about three to four months, according to Quantum.
Rick Belluzzo, chairman and CEO of Quantum, will remain as CEO of the combined company.
Quantum also reported Tuesday that revenue for its fourth quarter, ended March 31, declined 14 percent from the same year-ago quarter. The company attributed the decline to an ongoing transition in its products, changes in manufacturing locations and weak sales in its OEM channel and in the Europe, Middle East and Asia (EMEA) region. The company posted a net loss of $US23 million, or 12 cents a share, on revenue of $US206 million.
The $US23 million loss included $US18.6 million in charges from Quantum's February settlement in its three-year patent dispute with Storage Technology, known as StorageTek. StorageTek is now a part of Sun Microsystems.
- +
Ticked Off at Tick the Box Mentality 04/02/2008 13:01:15
Does your executive search firm know the difference between an MIS manager and a CIO, and if it does, can it explain that difference to its corporate clients?Does your executive search firm know its MIS managers from its elbow? Does it even know the difference between an MIS manager and a CIO, and if it does, can it explain that difference to its corporate clients? - +
Process Trip 04/02/2008 13:07:03
Why Maritz Travel revamped key business processes — and how business and IT came together to make it workWhen Rich Phillips became COO OF Maritz Travel about two and-a-half years ago, he sat down and took a hard look at the big industry picture
Read up on the latest ideas and technologies from companies that sell hardware, software and services. Achieving the impossible: Unlimited application scalability
Taking On Demand CRM Integration to the Next Level
Security Inside Out
Gaining Competitive Advantage Through Enterprise Planning
Business Intelligence and Enterprise Performance Management: Trends for Emerging Businesses
Know thy self: Reduce costs, secure data and ensure compliance with identity management
Discover the advantages of an open architecture multi-vendor network solution
Wireless LANs: Is my enterprise at risk?
Zones provide focussed content from Computerworld and leading technology partners.
Discover how SOA can create smarter outcomes for your business.
Attend and learn:
- How SOA is helping leading companies to become more agile
- Where you should be applying SOA processes in your company
- The top SOA implementation mistakes to avoid
Click here for more information.
- +
Computerworld Live Podcast #97: The Future of Enterprise Networking 25/07/2008 09:45:36
This week CW Live chats with Mark Thompson, global sales and marketing manager for HP ProCurve, on the future of the enterprise networking. Mark discusses the trends we can expect to see in the near future and how the right infrastructure can ensure your enterprise network is secure. - +
Computerworld Live Podcast #96: Security at the Edge 11/06/2008 09:22:22
CW Live speaks with Amol Mitra, HP ProCurve Director of Marketing for Asia Pacific and Japan. Today's topic: how enterprises are starting to shift away from simply controlling security via server logins, firewalls and moving to more adaptive security frameworks. - +
Data Management Edition #10: Multi-Petascale Systems 02/05/2008 09:12:33
This week we look at sustainability and the development of multicore technologies to build multi-petascale systems. - +
IT Security Edition #11: How to poison the Storm botnet 01/05/2008 08:51:55
This week CW Live presents a case study on how to poison the notorious Storm botnet . Plus we take a look at Cisco's plans for Ironport. - +
IT Security Edition #10: Cyber-battles fought and won 24/04/2008 11:09:47
Vendors bow to end user pressure to improve product security, and we take a look at the latest concepts shaping the cyber-battlefield of the future.
Mitel Launches Simpler Unified Communications 2008-11-19 17:40:00+11
Symantec Security Products Shine in In-Depth Protection Reviews 2008-11-19 13:01:00+11
Digital Sense opens first stage of the world’s largest data centre complex in Brisbane 2008-11-19 13:00:00+11
RightNow Technologies Delivers RightNow November ’08 Plus New On Demand Enterprise Contact Centre Package 2008-11-19 12:00:00+11
Valorem uniquely deploys RSA SecurID for remote workforce management 2008-11-19 10:16:00+11
Data grids and service-oriented architecture
When choosing an SOA strategy, corporations must ensure data availability, reliability, performance and scalability. A data grid infrastructure, built with clustered caching provides a framework for improved data access that can create a competitive edge and sustain customer loyalty. Read on to discover how this can be created within your organisation.
Buying Guides
Latest Products
