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Quantum nabs rival's storage technology

Storage company Quantum has acquired the assets of rival Connex, a subsidiary of hard-disk maker Western Digital, in a $11 million cash deal that's part of an effort to improve Quantum's Snap storage servers. Under the deal, Quantum will purchase intellectual property from Connex, while Western Digital will supply hard disks for the Snap systems on a nonexclusive basis, Quantum said Wednesday. The deal, expected to close in August, will diminish Quantum earnings in its fiscal year 2002. Quantum once made hard disks but sold that business to Maxtor earlier this year. It's focusing now on storage systems such as tape drives and libraries and canceled plans to spin off its Snap network-attached storage division.

Storage company Quantum has acquired the assets of rival Connex, a subsidiary of hard-disk maker Western Digital, in a $11 million cash deal that's part of an effort to improve Quantum's Snap storage servers. Under the deal, Quantum will purchase intellectual property from Connex, while Western Digital will supply hard disks for the Snap systems on a nonexclusive basis, Quantum said Wednesday. The deal, expected to close in August, will diminish Quantum earnings in its fiscal year 2002.

Quantum once made hard disks but sold that business to Maxtor earlier this year. It's focusing now on storage systems such as tape drives and libraries and canceled plans to spin off its Snap network-attached storage division.