Welcome to our dedicated page for Quantum Corporation news (Ticker: QMCO), a resource for investors and traders seeking the latest updates and insights on Quantum Corporation stock.
Quantum Corporation (QMCO) is a leading provider of innovative data storage and management solutions. Headquartered in the United States, Quantum specializes in scale-out storage, archive, and data protection services aimed at small businesses and large multinational enterprises alike. The company offers a unique approach to managing data throughout its entire lifecycle, from capture and sharing to long-term preservation.
Quantum's solutions are designed to handle large unstructured data sets and provide capabilities such as data ingestion, real-time collaboration, scalability, and robust protection. A significant portion of the company's revenue is derived from products based on tape technology, which remains a reliable and cost-effective medium for data storage.
One of the core strengths of Quantum is its scale-out portfolio, which allows businesses to manage digital assets efficiently and maximize their value. The company serves a global market, with the majority of its revenue generated in the Americas, followed by significant contributions from Europe and the Asia-Pacific region.
In recent developments, Quantum has made strides in enhancing its product offerings and expanding its market reach. The company has formed strategic partnerships and continues to innovate in the data management sector. Quantum's commitment to providing high-quality, reliable storage solutions has solidified its position as a trusted partner for businesses looking to protect and manage their data assets.
Quantum Corporation (NASDAQ: QMCO) announced the launch of its new StorNext architecture and H4000 Series appliances designed to simplify the management and protection of video content and critical data. This innovative architecture aims to reduce power and cooling costs by consolidating components, resulting in a 66% reduction in components and 50% less rack space needed. The new StorNext 7 software enhances usability with improved monitoring and management features. The H4000 Series is available for purchase, with shipments expected by the end of May 2021.
Quantum Corporation (NASDAQ: QMCO) has appointed Brian Cabrera as General Counsel and Chief Compliance Officer as of April 19, 2021. Cabrera has over 25 years of experience in the legal and regulatory sectors, previously serving as General Counsel at NVIDIA. His expertise is expected to aid Quantum in its transition to software-defined solutions for managing video and unstructured data. CEO Jamie Lerner highlighted Cabrera's history of facilitating growth at NVIDIA, which increased in value from $15 billion to over $100 billion under his guidance.
Quantum Corporation (NASDAQ: QMCO) has launched a new reference architecture for large-scale surveillance workloads designed for high-performance shared storage. This solution integrates Quantum's StorNext®, recognized as the world's fastest file system for video workloads. The architecture supports 500 to 2,000 cameras and data retention from 30 days to 1 year. This innovation aims to meet the growing demands of surveillance data management, ensuring no dropped frames during recording. Quantum continues to invest in this sector, recently enhancing its business development team in the Middle East, India, and Asia Pacific.
Quantum Corporation (NASDAQ: QMCO) will participate in the Loop Capital Markets Virtual Consumer, Industrials & TMT Conference on March 12, 2021. Management, including Jamie Lerner, Chairman and CEO, and Mike Dodson, CFO, will be available for investor calls throughout the event. Quantum specializes in technology that helps capture, create, and protect digital content across various sectors, being a key player in high-resolution video and industrial IoT solutions. The company was added to the Russell 2000® Index in 2020.
Quantum Corporation (NASDAQ: QMCO) announced its StorNext® File System as the fastest for video workloads, achieving record performance metrics in the SPEC SFS 2014 benchmark. It outperformed competitors with the highest throughput at 34,391 MB/sec, lowest latency at 0.9 milliseconds, and 7,450 concurrent streams, using 57% fewer storage nodes. This positions StorNext favorably for industries requiring extensive video data management, including media, surveillance, and earth sciences. Quantum's technology is well-suited for growing demands in high-performance storage.
Quantum Corporation (NASDAQ: QMCO) has announced its ActiveScale™ S3-compatible object storage system achieved Veeam® Ready qualification for Object and Object with Immutability. This qualification enhances data security for enterprises managing unstructured data. Quantum ActiveScale offers features like Object Lock, ensuring data protection against ransomware threats. The product supports end-to-end encryption and is designed for various industries, enhancing compliance and data availability. This partnership with Veeam solidifies Quantum's commitment to delivering robust data protection solutions.
Quantum Corporation (Nasdaq: QMCO) has successfully closed its underwritten public offering of 15,109,489 shares, including 1,970,803 additional shares due to the underwriters' option, priced at $6.85 per share. The offering generated gross proceeds of approximately $103.5 million. Quantum intends to use the net proceeds to repay part of its senior secured term loan, aiming to strengthen its financial position. The offering was facilitated by B. Riley Securities and Oppenheimer & Co. as joint managers.
Quantum Corporation (Nasdaq: QMCO) has announced a public offering of 13,138,686 shares at $6.85 each, aiming to raise approximately $90 million. The offering is scheduled to close on February 8, 2021, pending customary conditions. Quantum plans to utilize the proceeds to reduce a portion of its senior secured term loan debt. Additionally, underwriters have a 30-day option to purchase up to 1,970,803 additional shares to enhance capital raising. B. Riley Securities and Oppenheimer & Co. are leading the offering, with a registration statement effective since December 9, 2020.
Quantum Corp. (Nasdaq: QMCO) announced a public offering of its common stock aimed at repaying a portion of its senior secured term loan. The share offering is underwritten and subject to market conditions, with no assurance of completion or specific terms. B. Riley Securities and Oppenheimer & Co. are the lead managers for the offering. A previously filed shelf registration statement became effective on December 9, 2020. The company emphasizes that this press release does not constitute an offer to sell these securities in jurisdictions where it would be unlawful.
Quantum Corp. (NASDAQ: QMCO) announced the adoption of the 2021 Inducement Plan, effective February 1, 2021. This plan allows for granting equity awards to new employees as a recruitment incentive. The company granted a total of 320,000 restricted stock awards (RSUs) to eight new hires, with a three-year vesting schedule. Additionally, three employees received 200,000 performance stock awards (PSUs) that will vest based on performance criteria over five years. Quantum's technology aids in managing unstructured data, serving various industries.
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