Update: Quantum Acquires Symform's Cloud Platform

Aug.26.14 | About: Quantum Corporation (QTM)


Quantum announced a few days ago that it has acquired Symform's cloud storage services platform.

In my original article, I said that the company has huge growth opportunities in Big Data.

Symform's cloud storage platform will add significant value to Quantum's Big Data business, since the platform is well-proven in the market, supporting my investment thesis.

Quantum (NYSE:QTM) announced a few days ago that it has acquired Symform's cloud storage services platform. The platform is currently used by 45,000 individual users and small businesses across 170 countries. Apart from maintaining the service for existing Symform customers, Quantum plans to leverage the platform to expand its cloud software capabilities and service offerings in data protection and scale-out storage.

Jon Gacek, president and CEO of Quantum, said:

"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. 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."

In my original article, I noted that Quantum was looking to grow its Big Data business by emphasizing on data protection and security based on its StorNext, Lattus, and Q-Cloud solutions. Symform's cloud service is expected to provide a big boost to Quantum's Big Data business, as the service is well-proven in the market. Symform's platform, which supports seamless scalability, is capable of providing huge storage facility with billions of data objects under management. Further, it provides benefits such as self-healing and self-protection that enable simple and non-disruptive technology migration. I continue to believe that Quantum has tremendous upside for long-term, growth-oriented investors.

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