Market Overview

EMC Helped Quantum, May Buy Company Outright Now (EMC, QTM)

EMC (NYSE: EMC) helped out Quantum (NYSE: QTM) with a $100 million lifeline.

Now there is chatter that EMC may eventually buy the company outright. This comes as the war between Dell (NASDAQ: DELL) and Hewlett-Packard (NYSE: HPQ) intensifies over 3Par (NYSE: PAR).

Quantum has three times the revenue that 3Par does, and has a much smaller market cap, at nearly 300 million. This compares to the $1.2 billion for 3Par.

In addition to the rumors that EMC may buy Quantum, last year the data storage company provided Quantum with a $100 million lifeline to essentially keep the company afloat.

It looks like now that the company may eventually be swallowed up into EMC.

Shares of Quantum are spiking on this news, up 9.5% to $1.45.

See Some of the Top Moving Indexes Here.

Posted-In: News Rumors M&A Markets

 

Most Popular

Related Articles (DELL + EMC)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters