SAN JOSE, Calif. — Quantum Corp. (NASDAQ: QMCO) announces an agreement to acquire the video surveillance portfolio and assets of Pivot3, a provider of hyperconverged infrastructure (HCI) and a leader in intelligent software solutions for the security and surveillance markets.
The acquisition brings a diverse portfolio of video surveillance appliances, network video recorders (NVRs) and management applications along with a scale-out hyperconverged software platform, which going forward will all be offered under the Quantum VS-Series product portfolio.
Together with Quantum’s current line of NVR servers, the StorNext File System and ActiveScale object storage, the Pivot3 additions round out a comprehensive surveillance and security portfolio, spanning small to multi-petabyte deployments, according to the announcement.
“Surveillance cameras are the biggest data generator on the planet, and Pivot3 has established themselves as one of the leaders in this space by pioneering the use of hyperconverged software for surveillance recording,” says Jamie Lerner, Quantum chairman and CEO. “This acquisition represents another key step in Quantum’s transformation, solidifying the company as a serious player in the multi-billion-dollar video surveillance market, expanding our global customer base, sales channels, and technical expertise specific to this industry.”
The acquisition expands Quantum’s global customer base with over 500 new surveillance customers with some of the most demanding mission critical deployments in the world including airports, mass transit, casinos, education and smart cities. It will also add key employees to engineering, product and sales organizations with deep expertise in video surveillance solutions.
“We are excited to welcome Pivot3’s surveillance customers and partners to Quantum,” adds Lerner. “We are committed to making sure that they receive excellent service and support throughout this transition, and we have an innovative and compelling roadmap planned that builds on the proven Pivot3 product line with Quantum’s intellectual property and expertise in video. We are excited to share this roadmap and we will be reaching out in the coming days and weeks, starting this week at ISC West.”
The new employees joining Quantum will be under direction of the Strategic Markets Business Unit, led by Ross Fujii, general manager. Sales will be led by Curt Wittich.
“We believe it’s critical to manage the video surveillance data lifecycle from initial capture through expiration, and adding Pivot3 to the Quantum portfolio expands our ability to address security projects of every size and scope,” says Wittich, vice president of sales, strategic markets. “Surveillance traditionally utilizes ‘one-size-fits-all’ products that address only primary video storage, but higher quality cameras and increasing retention requirements demand different solutions to support video at various lifecycle stages. These solutions range from entry-level VMS servers all the way to Cloud or tape storage for multi-year, multi-petabyte retention. Quantum’s portfolio covers the entire lifecycle for optimal video placement, accessibility and cost effectiveness.”
The transaction purchase price totals approximately $8.9 million in cash and stock. The transaction is subject to customary closing conditions, and the parties expect to close by July 22, 2021.