Quantum Announces Partnership with IBM for Next Generation of LTO Technology

Rhea-AI Summary

Quantum Corporation (NASDAQ: QMCO) has announced a partnership with IBM to develop the next generation of LTO technology. This collaboration aims to enhance LTO-10 tape drives and media, improving capacity and performance while accelerating time-to-market. The specific terms of the agreement remain confidential. CEO Jamie Lerner emphasized the importance of LTO technology, especially amid increasing data growth and ransomware threats. Quantum aims to solidify its position in the market by providing low-cost, ultra-secure data storage solutions.

Positive

• Partnership with IBM to accelerate development of LTO-10 tape drives.
• Improvement in capacity and performance for next-generation LTO technology.
• Timely response to growing data storage demands and ransomware threats.

Negative

• None.

SAN JOSE, Calif., Oct. 19, 2021 /PRNewswire/ -- Quantum Corporation (NASDAQ: QMCO) today announced a partnership with IBM on the next generation of LTO technology. Under the terms of the agreement, Quantum will collaborate with IBM in its development of LTO-10 tape drives and media in order to accelerate time-to-market, capacity, and performance. The specific terms of the agreement are confidential and will not be disclosed. 

"With the massive growth in data, as well as pervasive ransomware threats, low-cost ultra-secure LTO is more relevant than ever," says Jamie Lerner, President and CEO, Quantum. "It is a strategic technology for large scale data storage, and it is imperative that LTO technology continues to evolve to meet growing marketplace needs. This partnership underscores our commitment to LTO and our desire to collaborate with IBM in their development of LTO-10." 

About LTO Technology

Linear Tape Open (LTO), also known as the LTO Ultrium format, is an open tape format designed for high-capacity long term storage and is used by many of the world's largest hyperscalers and enterprises for archiving data and protecting data against ransomware. Since the first LTO products were brought to market, over 5.6 million drives ^[1], 351 million cartridges and over 370 billion Terabytes of media capacity have been shipped, making LTO Ultrium the most successful tape format in history.

The latest generation of LTO, LTO-8, began shipping in 2017 with tape capacity of 12 Terabytes per drive. The upcoming LTO-9 has a targeted capacity point of 18 Terabytes per drive. Work is now beginning on LTO-10, and this agreement will focus on accelerating the development of LTO-10, as well as improving the capacity and performance of this next generation. 

The Importance of LTO Tape for Cold Data Storage and Ransomware Protection

LTO tape is increasingly being used for large scale cold storage due to its low cost, extremely low power and cooling requirements, reliability for storing data for decades, and storage density. Quantum is a leader in providing tape technology to hyperscale environments. 

"We are excited about this partnership with IBM," says Bruno Hald, General Manager of Secondary Storage at Quantum. "Customers and the tape market in general will benefit with faster time-to-market of the next LTO generation, and its anticipated improvements in LTO storage densities. We believe this news will be very well received in the market for all of those customers that rely on LTO as a key part of their storage infrastructure."

¹Source: IDC Tape Worldwide Factory Out Report cited at https://www.lto.org/what-is-lto/

About Quantum 
Quantum technology, software, and services provide the solutions that today's organizations need to make video and other unstructured data smarter – so their data works for them and not the other way around. With over 40 years of innovation, Quantum's end-to-end platform is uniquely equipped to orchestrate, protect, and enrich data across its lifecycle, providing enhanced intelligence and actionable insights. Leading organizations in cloud services, entertainment, government, research, education, transportation, and enterprise IT trust Quantum to bring their data to life, because data makes life better, safer, and smarter. Quantum is listed on Nasdaq (QMCO) and the Russell 2000^® Index. For more information visit www.quantum.com.

Quantum and the Quantum logo are registered trademarks of Quantum Corporation and its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.

Media contact:
Kerry Quintiliani
Red Lorry Yellow Lorry
quantum@rlyl.com
t +1 310 773 3763

 

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SOURCE Quantum Corp.

FAQ

What is Quantum Corporation's recent announcement regarding LTO technology?

Quantum Corporation announced a partnership with IBM to develop the next generation of LTO technology, specifically focusing on LTO-10 tape drives.

How will the partnership with IBM benefit Quantum Corporation (QMCO)?

The partnership is expected to accelerate time-to-market and enhance the capacity and performance of LTO-10 technology, strengthening Quantum's market position.

What are the expected advancements in LTO technology according to Quantum Corporation?

Advancements include improved storage capacity, enhanced performance, and faster market delivery of the new LTO-10 tape drives.

Why is LTO technology important for data storage?

LTO technology is crucial for large-scale data storage due to its low cost, reliability, and effectiveness in protecting against ransomware.

What stock exchange is Quantum Corporation (QMCO) listed on?

Quantum Corporation is listed on the NASDAQ stock exchange under the ticker symbol QMCO.