Quantum Collaborates With IBM On LTO Technology

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.

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