News

Maxtor Completes Merger with Quantum HDD

Maxtor Corp. completed its merger with Quantum HDD, the companies announced today.

Revenues in 2000 for the business units that make up the combined storage company amounted to $6 billion.

According to Maxtor, the merger establishes the company as the world's largest hard drive manufacturer based on annual combined unit shipments.

The two companies account for 36 percent of the hard drive market, from desktop PCs to servers.

Quantum Corp., which makes the DLT and SuperDLT tape drives as well as tape libraries and other storage products, continues as an independent company. Michael Brown, Quantum's chairman and CEO, joins Maxtor's board of directors.

The new company has 10,500 employees. The merger, which company officials say will bring cost savings of $200 million within two years, resulted in 530 jobs being eliminated.

Maxtor intends to unify the Maxtor and Quantum hard drive product lines in two stages over the next two years, although there will be no changes to the Quantum hard drives for at least six months.

Quantum HDD shareholders will receive 1.52 shares of Maxtor stock for each share of Quantum HDD that they own. The new company's stock will trade as MXTR on the Nasdaq stock exchange. -

About the Author

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

Featured

  • Microsoft Nudging Skype for Business Users to Teams

    Microsoft on Thursday announced some perks and prods for Skype for Business unified communications users, with the aim of moving them to the Microsoft Teams collaboration service instead.

  • How To Improve Windows 10's Sound and Video Quality

    Windows 10 comes with built-in tools that can help users get the most out of their sound and video hardware.

  • Microsoft Offers More 'Solorigate' Advice Using Microsoft 365 Defender Tools

    Microsoft issued yet another article with advice on how to use its Microsoft 365 Defender suite of tools to protect against "Solorigate" advanced persistent threat types of attacks in a Thursday announcement.

  • Microsoft FastTrack Support Extended to Microsoft 365 Defender Solutions

    The Microsoft FastTrack support program has been extended to Microsoft 365 Defender products for certain qualified subscribers, Microsoft indicated this week.

comments powered by Disqus