Quantum formally leaves HD business

— 7:44 PM on March 31, 2001

C|Net reports on Quantum's exit.

After 21 years of selling hard drives, Quantum on Friday formally left the business to turn its full attention to higher-level storage products and services.

Shareholders approved the sale of the hard drive business to competitor Maxtor, announced in October. Selling hard drives has been excruciating to many companies facing unpredictable demand, cutthroat competition and low profit margins.

Now Quantum, a 3,000-employee company headquartered in Milpitas, Calif., is out to become more like storage companies such as EMC that sell storage products and services rather than components. That strategy will include acquisitions of companies with expertise in both storage hardware and software, chief executive Michael Brown said in an interview.

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