Quantum Corp., a global leader in storage, today announced a definitive agreement under which Quantum will acquire Advanced Digital Information Corp. (NASDAQ:ADIC) 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. The transaction is expected to be up to 15 cents accretive to Quantum on a cash earnings per share basis, with annual cost synergies of approximately $45 million in the first full year of combined operations. The company expects that this accretion should start to be reflected in its financial results within the second full quarter following the close of the transaction.

Based on the complementary nature of the two companies' businesses, savings are expected to come primarily from economies of scale and manufacturing efficiencies in cost of goods sold, reduction of duplicative operating expenses and sharing of R&D and marketing costs. Given Quantum's previous success in integrating Benchmark and Certance after those acquisitions, the company expects a smooth and expeditious integration of ADIC.

www.quantum.com
www.adic.com