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Technology Stocks : Aahh...iNEXTV (AXC) The NEXT Thing!
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To: Michael Olds who wrote (3032)2/15/2001 10:22:50 AM
From: Glenn Perry   of 4169
 
I've never even heard of M4 and they got $56 million. Good news is that there appears to be some mergers and aquisitions in the automated tape-storage industry.

M4 Data Acquired by Quantum

SOMERSET, England -- Quantum Corporation's DLT & Storage Systems Group has
acquired UK-based data storage company M4 Data.
Under the deal, Qquantum will acquire M4 Data's outstanding stock for approximately
$56 million in consideration, including $13.4 million is cash, with the balance split
between debt and equity.
"The acquisition of M4 Data is part of a multi-faceted strategy to grow Quantum's
enterprise solutions business," said Michael Brown, CEO and chairman of Quantum.
"The strategy is focused on expanding the solutions, services and support we are
already providing to a range of customers and is based on our continued category
leadership in tape automation."
M4 provides tape automation products for the data storage market. During the past year,
Quantum has made several moves to enhance its presence in the enterprise storage
market, including introducing several new products and building a direct sales force.
Other terms of the deal, which is expected to close by March 31 pending tax and
regulatory approvals, include additional contingent consideration based on the
achievement of future performance goals.
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