Advanced Digital Information Corp. (ADIC) Message Board

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Technology Stocks : Advanced Digital Information Corp. (ADIC)

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To: Jim Oravetz who wrote (2280)	5/3/2006 12:35:24 PM
From: Jim Oravetz	Read Replies (1) of 2283

Quantum to Buy Advanced Digital A WALL STREET JOURNAL ONLINE NEWS ROUNDUP May 3, 2006 10:32 a.m. Data-storage technology company Quantum Corp. said it agreed to acquire Advanced Digital Information Corp. for $770 million. Advanced Digital, based in Redmond, Wash., makes automated tape-storage systems and drive technologies. The company reported net income of $14.3 million on sales of $454.2 million for the fiscal year ended Oct. 31. Advanced Digital shareholders will receive $12.25 in cash, or the right to take 3.461 shares of Quantum stock, for each Advanced Digital share they own. Quantum said, however, that it will issue no more than 10% of the total merger consideration in stock. Quantum said that because of the complementary nature of the two companies' businesses, savings are expected to come primarily from economies of scale, manufacturing efficiencies, reduction of duplicative operating expenses and sharing of research and development and marketing costs.

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