Business
Quantum Announces Agreement to Acquire Western Digital's ActiveScale Business
ActiveScale Object Storage Product Line Bolsters Quantum's Industry-Leading Portfolio for Managing Video and Unstructured Data SAN JOSE, Calif., Feb. 3, 2020
About this update from Quantum Corporation
[{"type":"text","content":"ActiveScale Object Storage Product Line Bolsters Quantum's Industry-Leading Portfolio for Managing Video and Unstructured Data\n\n\nSAN JOSE, Calif., Feb. 3, 2020 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO) today announced it has entered into an agreement with Western Digital Technologies, Inc., a subsidiary of Western Digital Corp. (NASDAQ: WDC), to acquire its ActiveScale™ object storage business. The addition of the ActiveScale product line and talent brings object storage software and erasure coding technology to Quantum's portfolio, and enables the company to expand in the object storage market. The acquisition demonstrates Quantum's commitment to innovation and growth, extending the company's leadership role in storing and managing video and unstructured data using a software-defined approach. Quantum and Western Digital are committed to executing a smooth transition for customers and key stakeholders, with Quantum providing post-closing continued support for ActiveScale products and a strong commitment to invest in - and enhance - the ActiveScale product line. \nThe transaction is expected to close by March 31, 2020, subject to the satisfaction of customary closing conditions. Financial terms of the transaction were not disclosed. Quantum expects the initial financial impact of the transaction to be neutral to slightly accretive to current business operations and additional guidance will be provided with the release of the fiscal Q4 2020 financial results.\nObject Storage and Erasure Coding; Key Technologies for Managing Video and Unstructured DatasetsVideo and other forms of unstructured data are growing exponentially in every industry. IDC forecasts this type of data will represent over 80% of all the world's data by 2022*. Examples of this unstructured data include video and images for entertainment, surveillance and security, marketing and training, and more. In addition, industries like genomics research, advanced driver assistance systems, geospatial exploration, and more are generating huge amounts of similar data. This content requires high-speed capture and processing (typically done with a file system like StorNext®), then is generally retained for many years or decades.\nObject storage software has a number of attributes that make it particularly well-suited for a wide range of datasets:\nMassive Scalabi...