News > Hardware

By Ed Frauenheim, CNET News.com
Thursday, October 21, 2004 09:44 AM

Data storage tape company Quantum on Wednesday said it will pay US$60 million in cash to acquire rival tape technology developer Certance. The purchase price excludes the distribution to the sellers of up to US$34 million from Certance's balance sheet, Quantum said.

Certance developed LTO Ultrium format with partners IBM and Hewlett-Packard. Quantum, the creator of DLTtape technology, already sells LTO Ultrium-format drives in its tape automation systems. "As a newly combined US$1 billion company building on Quantum's and Certance's complementary strengths, we will offer the industry's broadest portfolio of tape and disk systems for backup, recovery and archive," Quantum CEO Rick Belluzzo said in a statement.

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