International. Quantum Corporation announced an agreement to acquire Pivot3's video surveillance portfolio and assets. The acquisition brings a diverse portfolio of video surveillance devices, network video recorders (NVRs) and management applications along with a scalable hyperconverged software platform, which in the future will be offered under the Quantum VS-Series product portfolio.
Together with Quantum's current line of NVR servers, storNext ™ file system, and ActiveScale ™ object storage, the Pivot3 additions complete a comprehensive surveillance and security portfolio, spanning small to multi-petabyte deployments.
"Surveillance cameras are the largest data generator on the planet, and Pivot3 has established itself as one of the leaders in this space by pioneering the use of hyperconverged software for surveillance recording," says Jamie Lerner, president and CEO of Quantum. "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 industry-specific technical expertise."
Aspects that Quantum highlights about the acquisition:
- The purchase price of the transaction totals approximately US$8.9 million in cash and shares.
The acquisition is projected to slightly increase EBITDA for the remainder of fiscal 2022
- Expands the video surveillance portfolio with hardware and software offerings to be offered in the Quantum VS-Series portfolio
- It is based on an established reputation for quality, world-class services and support and a mature supply chain in the video surveillance market.
- Provides fundamental intellectual property around distributed storage, data location, erasure encryption and quality of storage service.
Expands the global customer base with over 500 new surveillance customers with some of the world's most demanding mission-critical deployments, including airports, public transportation, casinos, education, and smart cities.
- Adds key employees to engineering, product and sales organizations with extensive experience in video surveillance solutions.
Lerner added, "We are excited to welcome Pivot3's customers and surveillance partners to Quantum. We are committed to ensuring they receive excellent service and support during this transition, and we have an innovative and compelling roadmap planned that builds on Pivot3's proven product. in line with Quantum's intellectual property and video expertise."
"We believe it is critical to manage the lifecycle of video surveillance data from initial capture to expiration, and adding Pivot3 to quantum's portfolio expands our ability to address security projects of all sizes and scopes," said Curt Wittich, vice president of strategic markets sales at Quantum. "Surveillance traditionally uses 'one size fits all' products that only address primary video storage, but higher quality cameras and ever-increasing retention requirements demand different solutions to support video at various stages of the lifecycle. These solutions range from entry-level VMS servers to the path to tape or cloud storage for multi-petabyte retention over several years. Quantum's portfolio covers the entire lifecycle for optimal video placement, accessibility and cost-effectiveness."
The new employees joining Quantum will be under the direction of the Strategic Markets Business Unit, led by Ross Fujii, General Manager. Sales will be handled by Curt Wittich.
