Quantum Corp QMCO:NASDAQ

Last Price$5.53NASDAQ Previous Close - Last Trade as of 4:00PM ET 1/14/22

Today's Change-0.09(1.60%)
Bid (Size)$5.52 (2)
Ask (Size)$5.53 (23)
Day Low / High$5.44 - 5.61
Volume168.6 K

Quantum to Collaborate With IBM on Linear Tape-Open Technology

9:23AM ET 10/19/2021 MT Newswires
Quantum (QMCO) said Tuesday it is collaborating with International Business Machines (IBM) on the next generation of linear tape-open technology, a tool to archive and store data.

Under the terms of the agreement, Quantum will work with IBM on LTO-10 tape drives and media.

"With the massive growth in data, as well as pervasive ransomware threats, low-cost ultra-secure LTO is more relevant than ever," said Jamie Lerner, chief executive in Quantum, in a statement.

The terms of the agreement were not disclosed.

Quantum shares rose 3% in premarket trading, while IBM was off 0.6%.