Quantum plans to purchase rival tape storage vendor Advanced Digital Information for approximately $770 million.
The move will expand Quantum's salesforce, channel partnerships and OEM (original equipment manufacturer) arrangements, the company said. Quantum expects to make cost savings by combining both companies' manufacturing, operations, research and development, and marketing teams.
If approved, the deal is expected to close in about three to four months, according to Quantum. Rick Belluzzo, chairman and CEO of Quantum, will remain as CEO of the combined company.