- Quantum Corp QMCO bonded with International Business Machines Corp IBM on the next generation of LTO technology. The specific terms of the agreement remain undisclosed.
- Quantum will collaborate with IBM to develop LTO-10 tape drives and media to accelerate time-to-market, capacity, and performance.
- Linear Tape Open (LTO), also known as the LTO Ultrium format, is an open tape format designed for high-capacity long-term storage.
- "With the massive growth in data, as well as pervasive ransomware threats, low-cost ultra-secure LTO is more relevant than ever," said Jamie Lerner, President and CEO, Quantum.
- Price Action: QMCO shares traded lower by 0.18% at $5.42, while IBM is down 0.23% at $142.03 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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