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By eweek  |  Posted 2002-10-15 Print this article Print

: Quantum to Spin Off NAS Division"> Broadband Storages former CEO, Jack Staub, has left the company, he said. Meanwhile, at Quantum, "what you will see from us is to continue to add to the disk backup and enhanced backup line," Orecklin said.
Quantum will have less than a 20 percent equity stake in Snap Appliance, Orecklin said. Eric Kelly, former president of Maxtor Corp.s now-defunct NAS division, will be Snap Appliances first president and CEO, and most Quantum employees will be retained, officials said. The deal will not affect Snap Servers or Guardians distribution channels or warranties, they said.
The spinoff, to be based in San Jose, Calif., follows Quantums recent acquisition of low-end tape competitor Benchmark Storage Innovations Inc. and the hiring of former Microsoft Corp. President Rick Belluzzo as CEO. The spinoff was being considered before Belluzzo joined, Orecklin said. More details will be announced Oct. 27 when Quantum announces its second-quarter earnings, officials said.


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