Benzinga | Oct 19, 2021 08:06AM EDT

Quantum Report Partnership With IBM For Next Generation Of Linear Tape Open Technology, No Terms Disclosed

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."