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

  • Windows 10 Mobile To Fall Out of Support in December

    Microsoft will end support for the Windows 10 Mobile operating system on Dec. 10, 2019, according to an announcement.

  • Get More Out of Your Outlook Inbox with TakeNote

    Brien comes across a handy, but imperfect, feature in Outlook that lets you annotate specific e-mails. Its provenance is something of a mystery, though.

  • Microsoft Resumes Rerelease of Windows 10 Version 1809

    Microsoft on Wednesday once more resumed its general rollout of the Windows 10 version 1809 upgrade, also known as the "October 2018 Update."

  • Microsoft Ups Its Windows 10 App Compatibility Assurances

    Microsoft gave assurances this week that organizations adopting Windows 10 likely won't face application compatibility issues.

comments powered by Disqus
Most   Popular

Office 365 Watch

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.