In addition, Imation will acquire a 12 percent equity stake in O-Mass AS for US $5 million, assuming contractual obligations are met.
"It is a noteworthy milestone in Imation's efforts to pursue new opportunities for ongoing growth in tape storage products," observed Peter Paul van Heesewijk, Imation's regional manager for Middle East. "Our agreement with O-Mass is another example of Imation's commitment to develop future technologies that have the potential to dramatically advance the performance capabilities of magnetic storage."
Imation and O-Mass are developing tape storage products based on a new technology that relies on magnetic writing and optical reading of standard magnetic tape, and is designed to improve the capacity and transfer rate of magnetic storage tape media. Under the terms of the agreement, Imation and O-Mass will develop and commercialise a 5.25 inch full height form factor tape drive and cartridge with a native capacity of 1.2 terabytes (TB) and a 64MB/sec native transfer rate. The data cartridge will be the equivalent size of DLT and LTO today. In addition to the 1.2TB capacity product, O-Mass and Imation have defined a product family roadmap to deliver a 20TB capacity product.
"Customers worldwide (including this region) are always looking for two things - speed and capacity," pointed out Ramzi Itani, Imation's marketing manager in the Middle East. "Storage customers need a tape with higher speed and more storage space, mainly the oil & gas industry, banking and telecommunications."
With its extensive history and expertise in magnetic and optical storage technologies, Imation is a valuable addition to O-Mass' development program and commercialisation plans. This business agreement is an important endorsement of both companies' efforts to develop a breakthrough technology to enhance the capacity and performance of magnetic tape storage. The two companies have agreed to work closely together on the development program, with O-Mass responsible for the drive development and Imation responsible for the tape cartridge media and format development. Commercial availability expected in 2005.
"Imation introduces new products all around the world at the same time since the demand for new technology is universal," added Itani.
This means whenever Imation and Tandberg release the new tape, it will come into Middle East market at the same time it hits the rest of the world.
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Imation and Tandberg subsidiary to develop the world's fastest tape drive
- United Arab Emirates: Monday, August 26 - 2002 at 17:27
- PRESS RELEASE
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The Middle East regional office of Imation, a worldwide leader in data storage and information management, announced that Imation Corporation, Oakdale, USA, signed an agreement with O-Mass AS, a subsidiary of Tandberg Data ASA, a leading provider of tape drives and tape automation information storage solutions, to work together to develop the world's fastest performing, highest capacity tape drive based on a combination of magnetic and optical technologies.
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Posted by Anne-Birte Stensgaard, News EditorMonday, August 26 - 2002 at 17:27 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
This article was updated on Sun Jun 13 2004.
Notes and Media Contacts »
About Imation:
Imation Corp. is a leading developer and manufacturer of removable data storage products sold in over 60 countries worldwide. Imation removable data storage offerings are a key ingredient in much of the world's technology infrastructure - from corporate data centres, to networks, to small businesses and home users. The product line is one of the broadest in the industry, with magnetic and optical products for the enterprise data centre, the network environment, and the consumer. For business users, Imation magnetic tape cartridges deliver reliable data storage in data processing, backup and archive applications. Imation's storage consulting services help customers to improve performance, maximise efficiency, and minimise cost for a multitude of storage environments. Consumers use Imation's broad range of digital media, drives and accessories to store photos, data, music and more. On its own and through industry alliances, Imation continues to pioneer today's proven tape, optical and diskette technologies.
About O-Mass
O-Mass AS, a subsidiary of Tandberg Data ASA, was formed in 2002 with the specific task of developing and commercializing a radically new combination of magnetic and optical tape technology, which principally relies on magnetic writing and optical reading of standard magnetic tape. The company has filed worldwide patents to critical elements of the technology, and has successfully demonstrated a prototype version of the technology. O-Mass is headquartered in Oslo, Norway, with product development taking place in Norway and locations throughout Europe and the USA. For information about the company, together with a descriptive presentation of the technology, visit http://www.tandberg.com/o-mass.
About Tandberg Data
Tandberg Data supplies SLR™ and DLT™ branded tape drives and tape automation information storage solutions to leading OEMs and through a worldwide channel sales network. In addition to corporate offices and manufacturing facilities in Oslo, Tandberg Data has subsidiaries in the USA, UK, France, Germany, Singapore and Japan, as well as representative offices in China (PRC), India, Italy, Malaysia, Sweden, Taiwan and Thailand. Tandberg Data ASA is a publicly held company based in Oslo, Norway and is traded on the Oslo Stock Exchange (TAD.OL). The company is well known worldwide for its innovation in information storage technology. For news, investor relations and product information, visit Tandberg Data's website at http://www.tandberg.com.
For more information on this press release, please contact:
Imation:
Ramzi Itani
Tel: +971 4 8818008
Market Buzz International:
Cyrus Roche
Tel: +971 4 3914873
Imation Corp. is a leading developer and manufacturer of removable data storage products sold in over 60 countries worldwide. Imation removable data storage offerings are a key ingredient in much of the world's technology infrastructure - from corporate data centres, to networks, to small businesses and home users. The product line is one of the broadest in the industry, with magnetic and optical products for the enterprise data centre, the network environment, and the consumer. For business users, Imation magnetic tape cartridges deliver reliable data storage in data processing, backup and archive applications. Imation's storage consulting services help customers to improve performance, maximise efficiency, and minimise cost for a multitude of storage environments. Consumers use Imation's broad range of digital media, drives and accessories to store photos, data, music and more. On its own and through industry alliances, Imation continues to pioneer today's proven tape, optical and diskette technologies.
About O-Mass
O-Mass AS, a subsidiary of Tandberg Data ASA, was formed in 2002 with the specific task of developing and commercializing a radically new combination of magnetic and optical tape technology, which principally relies on magnetic writing and optical reading of standard magnetic tape. The company has filed worldwide patents to critical elements of the technology, and has successfully demonstrated a prototype version of the technology. O-Mass is headquartered in Oslo, Norway, with product development taking place in Norway and locations throughout Europe and the USA. For information about the company, together with a descriptive presentation of the technology, visit http://www.tandberg.com/o-mass.
About Tandberg Data
Tandberg Data supplies SLR™ and DLT™ branded tape drives and tape automation information storage solutions to leading OEMs and through a worldwide channel sales network. In addition to corporate offices and manufacturing facilities in Oslo, Tandberg Data has subsidiaries in the USA, UK, France, Germany, Singapore and Japan, as well as representative offices in China (PRC), India, Italy, Malaysia, Sweden, Taiwan and Thailand. Tandberg Data ASA is a publicly held company based in Oslo, Norway and is traded on the Oslo Stock Exchange (TAD.OL). The company is well known worldwide for its innovation in information storage technology. For news, investor relations and product information, visit Tandberg Data's website at http://www.tandberg.com.
For more information on this press release, please contact:
Imation:
Ramzi Itani
Tel: +971 4 8818008
Market Buzz International:
Cyrus Roche
Tel: +971 4 3914873
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