Quantum has announced the acquisition of Square Box Systems, a specialist in data cataloguing, user collaboration, and digital asset management software.
According to Quantum, the acquisition will strengthen its ability to leverage artificial intelligence and machine learning technology to catalogue and analyse digital assets such as video and audio files.
Square Box Systems’ flagship product is CatDV, a media management and workflow automation software platform that helps organisations with large volumes of media and metadata to organise, communicate and collaborate more effectively. CatDV leverages AI and machine learning technology to catalogue and analyse digital assets; enable advanced search across local and Cloud repositories; and provide access control across the full data lifecycle for secure sharing and data governance.
“There is huge untapped value contained in video, digital images, and other valuable file data,” said Jamie Lerner, president and CEO at Quantum. “This acquisition will not only help our customers make better business decisions based on their data, but it represents another key step in Quantum’s transformation by adding data enrichment technology to our portfolio. We are also adding a growing, profitable software business unit with strong gross margins that is in the late stages of transitioning to a Cloud-based SaaS business.”
Financial details of the acquisition have not been revealed.
