Quantum, a provider of backup, recovery and archive solutions, today announced that it has acquired Pancetera Software, a privately held company that aims to reduce the complexity and cost of managing and protecting data in virtual server environments.
The $12 million transaction consisted of $8.4 million in cash and $3.6 million in Quantum common stock (approximately 1.2 million shares), and is expected to be accretive to operating profit by the end of the current fiscal year.
For Quantum, the acquisition adds key assets for enhancing data management in virtual environments. Pancetera technology is already compatible with Quantum’s DXi disk backup and deduplication products, and the company plans to further integrate the technology into its longer-term roadmaps for both DXi and its StorNext file sharing and archive offerings.
The acquisition also adds significant virtualization and storage management expertise to Quantum. Nearly all the Pancetera employees have joined the company, including co-founders Mitch Haile (CTO and VP, Product Management) and Greg Wade (VP, Engineering), as well as CEO Henrik Rosendahl.
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