Note from DSA Editor: Recent analysis of financial results from the "old school" tape companies including Overland, Tandberg (now merged into one) and also Quantum show that they have all struggled to re-invent themselves. To that end Quantum should be applauded for making this aquisition. We have concerns whether this will work out for Quantum, This area of cloud is highly competitve and pricing is being driven down in fiece competition, the eventual winners will make money, but in the meantime there is a battle of staying power for those that can survive on break neck pricing. We hope that Quantum continue to evolve and manage to carve out a new future for themselves. Cloud is important, but it may be prudent for Quantum to continue to build partneships with other major public cloud providers as they shape out their cloud strategy.
Quantum Acquires Symform's Cloud Services Platform And Development Team
Will Leverage Technology and Expertise to Expand Quantum's Cloud Offerings
SAN JOSE, Calif., Aug. 7, 2014 /PRNewswire/ -- Quantum Corp. (NYSE: QTM) today announced that it has acquired Symform's cloud storage services platform, which is currently used by 45,000 individual users and small businesses in 170 countries. Quantum is committed to maintaining the service for existing Symform customers and also plans to leverage the technology to expand Quantum's cloud software capabilities and service offerings in data protection and scale-out storage. In addition, the company has hired Symform's development team, including CTO and co-founderBassam Tabbara, to help build out these offerings.
Symform's extensible cloud service is well-proven in the market, with petabytes of storage and billions of data objects under management in a broad range of use cases. Its technology supports seamless scalability and provides benefits such as self-healing and self-protection that enable simple, non-disruptive technology migration. In addition, Symform's technology is known for its extremely simple deployment and ease of use. Other benefits include:
"Quantum already provides cloud-based data protection through our Q-Cloud™ Protect service and other partner offerings, and we recently introduced a cloud solution for content production, packaging and distribution workflows based on our StorNext® and Lattus™ solutions," said Jon Gacek, president and CEO of Quantum. "The technology and talent we've acquired from Symform will enable us to augment these offerings and address a broader range of customer needs, as well as provide enhanced service options to the existing Symform user base.
"As just one example, we will be integrating Symform software and our platforms to create simple, very cost-effective cloud service options for long-term archive data and cold storage. This would complement our current StorNext-Lattus solutions which provide high performance nearline storage in a private cloud."
Quantum has completed the Symform transaction and does not expect it to impact the company's non-GAAP annual financial guidance for the current fiscal year.