Storage supplier Quantum has agreed to purchase Certance, a manufacturer of tape-based storage devices.
The $60m (£32m) transaction, which is subject to antitrust review, is expected to close by the end of 2004, the company said.
Certance sells storage devices for small and medium-sized businesses based on the digital audio tape/digital data storage and linear tape open tape formats.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
The acquisition will enhance Quantum's presence with small- and medium-sized businesses and strengthen Quantum's channel business, while bringing the company's annual revenues to more than $1bn, the statement said.
The company, which has over 1,000 employees, was known as Seagate Removable Storage Solutions until April 2003, when it adopted the Certance name.
Robert McMillan writes for IDG News Service