Quantum extends its relationship with TIVO.
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Quantum Corporation Extends Strategic Technology Partnership With TiVo Inc.
Endorsement Cements Quantum's Position as Leading Digital Storage Provider to Personal Video Recorder (PVR) Market
MILPITAS, Calif.--(BUSINESS WIRE)--June 28, 2000-- The Consumer Electronics Business Unit (CEBU) of Quantum Corporation's Hard Disk Drive Group (NYSE:HDD - news) today announced it will continue to serve as a premier partner to TiVo (Nasdaq:TIVO - news) and supplier of digital storage technology for TiVo's Personal TV(TM) Service. The announcement is a major endorsement of Quantum's vision, strategy, and innovative technology in the consumer electronics market.
``The renewed agreement with TiVo speaks to the quality and stability of Quantum QuickView(TM) technology as well as the company's ability to stay at the forefront of this space,'' said Larry Gerbrandt, senior analyst for Paul Kagan Associates, Inc., a Carmel, Calif.-based media research and consulting firm. ``We see that the PVR space is a very vibrant market and believe this technology is important and likely to revolutionize the way TV viewers interact with the medium.''
The agreement extends Quantum's preferred provider relationship with TiVo and its OEMs. The renewed deal has its roots in a pioneering relationship the two companies forged in 1997. At that time, TiVo and Quantum began collaborating to create a breakthrough product that has emerged today as one of the fastest growing consumer electronics categories ever introduced -- the Personal Video Recorder (PVR). TiVo and Quantum both envisioned how their respective technologies could be joined to revolutionize the way people watch television. As a result, the PVR category has taken off in a way that is unlike other new technologies. The PVR has touched every aspect of the television infrastructure from the viewer and advertiser to the service provider and broadcaster.
``Our relationship with Quantum stems from our common vision around using the best in technology to deliver the TiVo Service on a consumer product that is reliable, easy-to-use, and fail safe,'' said Mike Ramsay, TiVo's president and chief executive officer. ``The living room is one of the most volatile environments for electronics and Quantum has been instrumental in providing the technology that allows consumers to enjoy the control and convenience of the TiVo Service in their homes.''
Powered from the beginning by Quantum QuickView audio/video technology, the TiVo Personal TV Service digitally records television shows without videotape, so consumers can watch what they want, when they want to watch it. The TiVo Service is available in the United States on the Philips Personal TV Recorder(TM) and the Sony Digital Network Recorder(TM) in nearly 3,500 consumer electronics retail and online outlets. Industry support of TiVo is reflected in its partner roster that includes AOL, Blockbuster, BSkyB, DIRECTV, Philips, Sony, and the leading cable and network television companies.
``This renewed agreement with TiVo provides strong validation for Quantum QuickView technology as a preferred platform for advanced television services,'' said Tex Schenkkan, vice president and general manager of Quantum's CEBU. ``We are very pleased and proud to continue our relationship with TiVo. The new television experience that Quantum and TiVo envisioned three short years ago has now reached consumers' living rooms and is already changing the way people produce, distribute, and watch television.''
About Quantum QuickView
Quantum pioneered the category of products that control information and entertainment through hard disk drive technology. Quantum QuickView is the enabling technology driving the introduction of various new consumer electronics products that are able to instantly record and play back audio, video, and web content. The ability to perform live-broadcast-pause and simultaneous record and playback of audio/video content are also features of Quantum QuickView. Because there is no tape involved, there is no rewinding or fast forwarding to find a specific audio or video program, giving consumers the benefit of instant access to any selection on demand.
About TiVo
TiVo (Nasdaq:TIVO - news) is the creator of the personal television service. Founded in 1997 with the mission to dramatically improve consumers' television viewing experiences, TiVo developed a technology that serves as a platform for delivering a variety of home entertainment services. TiVo's Personal TV Service(TM) simplifies the way we watch and enjoy television by digitally recording television shows, without videotape, so you can watch what you want, when you want to watch it. TiVo was the first to deliver on the promise of consumer choice and control over TV viewing, building a loyal and passionate subscriber base.
TiVo's leadership is grounded in its ability to forge critical partnerships, working together with the giants of the media, technology, consumer electronics, and television industries. Industry support of TiVo is reflected in its partner roster that includes AOL, Blockbuster, BSkyB, DIRECTV, Philips, Sony, and the leading cable and network television companies.
Today, the TiVo Service is available in the United States on the Philips Personal TV Recorder(TM) and the Sony Digital Network Recorder(TM) in nearly 3,500 consumer electronics retail and online outlets. TiVo is headquartered in San Jose, CA with offices in Los Angeles, CA. Additional information can be found at www.tivo.com.
About Quantum
Founded in 1980, Quantum Corporation (www.quantum.com) is the world's leading storage supplier in six of the seven markets it serves: desktop hard disk drives, tape drives, network attached storage (NAS) appliances, solid state systems, hard disk drive applications for consumer electronics, and DLTtape(TM) automation systems. Quantum is also a leading supplier of high-end hard disk drives. In 1999 Quantum became the first Silicon Valley company to issue tracking stock, replacing its existing common stock with the ticker symbols DSS and HDD, which track the separate performance of the company's DLT and Storage Systems and Hard Disk Drive businesses. Both stocks are traded on the New York Stock Exchange. Selling its products through OEM and distribution channels worldwide, Quantum's sales for the fiscal year ending March 2000 were $1.4 billion for Quantum's DLT and Storage Systems Group and $3.3 billion for Quantum's Hard Disk Drive Group.
Quantum Corp., 500 McCarthy Blvd., Milpitas, CA 95035, 408/894-4000, www.quantum.com
Quantum and the Quantum logo are trademarks of Quantum Corporation, registered in the United States and other countries. QuickView and DLTtape are trademarks of Quantum Corporation. All other trademarks are property of their respective owners.
The foregoing statements regarding future technology, products incorporating that technology, estimated product performance, availability and price, and the impact of the new products on Quantum, TiVo and the market are forward-looking statements and actual results could vary. Factors which could affect actual results include the ability to successfully integrate new technology into products in a cost-effective manner, the ability to successfully manufacture and distribute new products at sufficient volume, quality and reasonable cost, the timing of new product introductions, competition, and the significant uncertainty of market acceptance of new products and technology.
Contact:
Quantum Corporation
Rob Lopez, 408/324-7431
rob.lopez@quantum.com
or
The Hoffman Agency For Quantum Corporation
Karin Gilles, 408/975-3038
kgilles@hoffman.com
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