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SyQuest Technology Signs OEM Partnership Agreement With Compaq Computer Corporation; Award-Winning SparQ Drive to be Offered in Compaq's Configure-To-Order Program
Business Wire - June 09, 1998 11:30
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FREMONT, Calif.--(BUSINESS WIRE)--June 9, 1998--SyQuest Technology Inc. (NASDAQ:SYQT), a leading manufacturer of removable cartridge hard drives, has signed a three-year original equipment manufacturer (OEM) agreement with Compaq Computer Corporation (NYSE: CPQ), to incorporate the award-winning SparQ 1.0 GB internal removable cartridge hard drive into Compaq's newly announced Configure-To-Order (CTO) program.
"We could not have hoped for a better endorsement of the SparQ drive system," said Ed Harper, president and CEO of SyQuest. "Under this arrangement, the world's leading maker of PCs will offer an integrated removable storage solution to Compaq customers who require high performance, gigabyte-capacity products. Compaq realizes that typical users often work at multiple locations and they want high capacity removable drives to both back up and transport their data easily. We expect this arrangement to continue to increase sales and demand for the SparQ drive and we look forward to serving Compaq's world-wide customer base."
Announced in November 1997, the SparQ drive provides users with one gigabyte of storage capacity, ten times the amount of removable storage typically integrated into desktop computer systems. The SparQ drive was awarded the 1997 PC Magazine Editors' Choice award for best/price performance and continues to receive high accolades from other publications.
About SyQuest
Based in Fremont, Calif., SyQuest Technology, Inc. is the leader in removable cartridge hard drive storage technology. The company offers the best performing, most affordable, and easy to use, high capacity removable hard drives and cartridges in the marketplace. SyQuest award winning products are ideal storage solutions for SOHO/professionals, families, students, Internet users and more. SyQuest (SYQT) is publicly traded on NASDAQ's National Market System. The company's web site is syquest.com.
About Compaq
Founded in 1982, Compaq Computer Corporation, a Fortune 100 company, is a global information technology company. Compaq is the fifth largest computer company in the world and the largest global supplier of personal computers. With worldwide sales of $24.6 billion in 1997, Compaq develops and markets hardware, software, solutions and services, including industry-leading enterprise computing solutions, fault-tolerant business-critical solutions, networking and communication products, commercial desktop and portable products and consumer PCs. The company is an industry leader in environmentally friendly programs and business practices.
Compaq products are sold and supported in more than 100 countries through a network of authorized Compaq marketing partners. Customer support and information about Compaq and its products can be found at compaq.com or by calling 1-800-OK-COMPAQ in North America. Product information and North America reseller locations can be obtained by calling 1-800-345-1518. Compaq North America is headquartered in Houston, Texas. Its products and services are sold and supported through a network of more than 25,000 commercial and consumer marketing partners across the United States and Canada.
This news release contains forward-looking statements that involve risks and uncertainties, including competition in the marketplace for the company's products, and other risks detailed from time to time in the SEC reports filed by SyQuest including its most recent reports on Forms 8K, 10K and 10Q.
SyQuest is a registered trademark and the SyQuest logo, and SparQ are trademarks of SyQuest Technology, Inc. All other brands or trade names are the property of their respective companies.
CONTACT: SyQuest Technology
Maureen Smith, 510/226-5357
msmith@syquest.com
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