Quantum Sues Riverbed Technology Over A Patent Involving Data De-duplication Technology - Update [QTM]
10/9/2007 4:25:46 PM Tuesday after the closing bell, Quantum Corp. (QTM), a storage company based in San Jose, California, said it has filed a patent infringement lawsuit in the U.S. District Court in the Northern District of California against Riverbed Technology, Inc. (RVBD) The lawsuit alleges that Riverbed has infringed, and continues to infringe, a Quantum patent by selling products that employ a method of data de-duplication covered by this patent. Quantum said the patent at issue was granted in November 1999 and is a pioneering patent in data de-duplication.
Data de-duplication technology eliminates redundant data for storage on disk and transmission via networks. It increases effective disk capacity over that of conventional disk, thus enabling users to retain data on fast recovery disk for months instead of days. It also reduces the bandwidth needed to transmit such data between sites.
Quantum said over the past year it has concluded confidential license agreements with other companies that encompass this pioneering patent. Shawn Hall, vice president and general counsel of Quantum, said efforts to resolve the issue were unsuccessful and the company had no choice, but move ahead with legal action.
QTM closed Tuesday's regular trade at $3.79, up $0.07 or 1.88% , on 1.01 million shares. |
