EXCLUSIVE: Quantum Comments on NetApp Deal (QTM)

Shares of Quantum Corp. QTM rose sharply today, gaining 17% on more than 12 million shares, on news that NetApp NTAP will sell its StorNext data management software around the world. A company spokesman told Benzinga that StorNext has a "strong presence in media and entertainment." The spokesman went on to say that today's announcement provides further valiation of StorNext benefits. Indeed, "it extends the reach of StorNext into a larger customer base, considering the explosion in rich media content," the spokesperson explained. Shares of Quantum gained 45 cents today to close at $3.10. Quantum operates as a storage company that provides backup, recovery, and archive solutions to small businesses to multinational enterprises around the world.