Quantum to Buy Unit of Western Digital
Data storage device maker Quantum Corp. of Milpitas, Calif., said it is acquiring Connex, a Western Digital Corp. unit that develops network-attached storage modules, for $11 million.
Quantum said Connex’s technology should boost the features offered in Quantum’s Snap Server product line as well as broadening its storage systems portfolio.
Western Digital, a Lake Forest disk drive manufacturer, also will provide hard drives to Quantum’s Snap Appliances unit on a nonexclusive basis.
The cash transaction is expected to close by mid-August, Quantum said.
Western Digital will retain its SANavigator operations, which provide software that manages storage networks. Western had separated SANavigator from the Connex unit earlier this year. Both are based in San Jose.
Quantum’s stock closed Wednesday at $9.85, off 15 cents a share, while Western Digital’s shares dropped 21 cents to $3.72. Both stocks trade on the New York Stock Exchange.
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