This acquisition will strengthen Quantum’s ability to provide software solutions to help companies unlock the business value contained in their data, both on-premises and in the cloud.
January 21,2021 — Quantum Corp . has announced that it has acquired Square Box Systems Ltd, a specialist in data cataloging, user collaboration, and digital asset management software. The acquisition builds on Quantum’s recently expanded portfolio that classifies, manages, and protects data across its lifecycle by adding technology advancements to further enrich video, digital images and other forms of unstructured data. This acquisition will strengthen Quantum’s ability to provide software solutions to help companies unlock the business value contained in their data, both on-premises and in the cloud.
Square Box Systems’ flagship product is CatDV , an agile media management and workflow automation software platform that helps organizations with large volumes of media and metadata to organize, communicate and collaborate more effectively. CatDV leverages artificial intelligence and machine learning technology to make it easier for businesses of any size to catalog and analyze digital assets such as video, images, audio files, PDFs, and more; enable advanced search across local and cloud repositories; and provide access control across the full data lifecycle for secure sharing and data governance.
“There is huge untapped value contained in video, digital images, and other valuable file data,” says Jamie Lerner , President and CEO at Quantum. “This acquisition will not only help our customers make better business decisions based on their data, but it represents another key step in Quantum’s transformation by adding data enrichment technology to our portfolio. We are also adding a growing, profitable software business unit with strong gross margins that is in the late stages of transitioning to a cloud-based SaaS business.”
Source: Business World
