March 27, 2009
EMC Helps Finance Partner Company
EMC Corp. of Hopkinton has agreed to provide $100 million in financing to California backup, recovery and archive company Quantum Corp.
Quantum will use the money to refinance its convertible debt, something it is obligated to do by February 2010.
EMC licenses Quantum's deduplication software for use in its networked storage products. According to Quantum, EMC made the financing commitment to help make sure the company can continue investing in the technology enhancements that EMC customers need.
WBJ Web Partners
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