Quantum Corp to acquire Advanced Digital Information

DQC News Bureau

Quantum Corp announced a definitive agreement under which Quantum will acquire
Advanced Digital Information Corp for approximately $770 million. With combined
revenues exceeding $1.2 billion over the last four quarters, the two companies
are joining to provide customers with the most comprehensive and integrated
range of solutions for securely storing, managing, protecting and recovering
their data in open systems IT environments. Bringing the two companies together
will enable Quantum to deliver greater innovation, value and support to end
users, channel partners and OEMs. In addition, the combination will strengthen
Quantum's financial position, expand its market access and increase its
opportunities for growth.

“We are very excited about bringing Quantum and ADIC together to create
what will clearly be the largest independent provider of backup, recovery and
archive solutions and a global leader in addressing customers' evolving data
protection challenges,” said Rick Belluzzo, Chairman and CEO, Quantum, who
will hold the same position in the combined company. “With an unparalleled
portfolio of systems, software, devices and media, we will be able to integrate
these assets and incorporate value-add features to offer best-of-breed solutions
for customers of all sizes. Our enhanced financial strength will also enable us
to increase our investments in new products and services both within and beyond
our core business.”

“Joining with Quantum will deliver tremendous value to both our
shareholders and customers,” said Peter van Oppen, Chairman and CEO, ADIC. “The
combined company will provide a single source of intelligent and innovative
backup, recovery and archive solutions that enable end users to reduce costs and
more easily protect and manage their business-critical data. The combination
will also create a stronger go-to-market infrastructure, with larger and better
leveraged sales and service capabilities through which we can offer greater
support to customers.”