Quantum Corporation has announced an agreement to acquire the video surveillance portfolio and assets of Pivot3, a pioneer in hyper-converged infrastructure (HCI) and a renowned company in the field of intelligent software solutions for security and surveillance markets.
The acquisition brings a diverse portfolio of video surveillance appliances, network video recorders (NVRs), and management applications, along with a scale-out hyper-converged software platform, which going forward will all be offered under the Quantum VS-Series product portfolio.
Pivot3 surveillance portfolio acquisition
The Pivot3 additions round out a comprehensive surveillance and security portfolio
Together with Quantum Corporation’s current line of NVR servers, the StorNext File System, and ActiveScale object storage, the Pivot3 additions round out a comprehensive surveillance and security portfolio, spanning small to multi-petabyte deployments.
“Surveillance cameras are the biggest data generator on the planet, and Pivot3 has established themselves as one of the leaders in this space, by pioneering the use of hyper-converged software for surveillance recording,” said Jamie Lerner, Chairman and Chief Executive Officer (CEO).
Hyper-converged software for surveillance
He adds, “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 technical expertise specific to this industry.”
Highlights of the acquisition
- Transaction purchase price totals approximately US$ 8.9 million in cash and stock.
- Acquisition projected to be slightly accretive to EBITDA through the remainder of fiscal 2022.
- Expands video surveillance portfolio with hardware and software offerings that will be offered under the Quantum VS-Series portfolio.
- Builds on an established reputation for quality, state-of-the-art services and support, and a mature supply chain in the video surveillance
- Brings core intellectual property around distributed storage, data placement, erasure coding, and storage quality of service.
- Expands global customer base with over 500 new surveillance customers with some of the most demanding mission-critical deployments in the world including airports, mass transit, casinos, education, and smart cities.
- Adds key employees to engineering, product, and sales organizations with deep expertise in video surveillance solutions.
Jamie Lerner further said, “We are excited to welcome Pivot3’s surveillance customers and partners to Quantum. We are committed to making sure that they receive excellent service and support throughout this transition, and we have an innovative and compelling roadmap planned that builds on the proven Pivot3 product line with Quantum Corporation’s intellectual property and expertise in video.”
He adds, “We are excited to share this roadmap and we will be reaching out in the coming days and weeks, starting this week at ISC West.”
Managing video surveillance data lifecycle
We believe it’s critical to manage the video surveillance data lifecycle from initial capture through expiration"
“We believe it’s critical to manage the video surveillance data lifecycle from initial capture through expiration, and adding Pivot3 to the Quantum portfolio expands our ability to address security projects of every size and scope,” said Curt Wittich, Vice President of Sales, Strategic Markets at Quantum Corporation.
He adds, “Surveillance traditionally utilizes ‘one-size-fits-all’ products that address only primary video storage, but higher quality cameras and increasing retention requirements demand different solutions to support video at various lifecycle stages.”
Multi-year, multi-petabyte retention
Curt Wittich further said, “These solutions range from entry-level VMS servers all the way to Cloud or tape storage for multi-year, multi-petabyte retention. Quantum’s portfolio covers the entire lifecycle for optimal video placement, accessibility, and cost-effectiveness.”
The new employees joining Quantum Corporation will be under the direction of the Strategic Markets Business Unit, led by Ross Fujii, the General Manager, while sales will be led by Curt Wittich, the VP of Sales, Strategic Markets at Quantum. The transaction is subject to customary closing conditions, and the parties expect to close by July 22, 2021.