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Quantum Buys UK-based M4

Looking to further enhance its storage solution portfolio, Quantum Corp. announced today that it has signed a definitive agreement to acquire M4 Data Ltd., 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

About the Author

Scott Bekker is editor in chief of Redmond Channel Partner magazine.

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